Sunday, Oct 02, 2022
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Christine Lagarde Says Crypto Providers Aiding Russia; Crypto.com To Sponsor FIFA World Cup

Christine Lagarde says crypto service providers may be accomplices to Russia in overcoming sanctions. Meanwhile Crypto.com signs a sponsorship deal with FIFA.

Bitcoin
Bitcoin

Christine Lagarde, president of the European Central Bank (ECB), has said that crypto service providers might be accomplices in helping Russia evade sanctions imposed upon its economy. She added that crypto assets have always been a threat and continue to be so. Meanwhile, Crypto.com became the official sponsor in the upcoming International Federation of Association Football (FIFA) world cup 2022, Qatar. The financial details of the sponsorship deal were not disclosed, but this deal would put Crypto.com’s brand name all around FIFA’s venue and within the stadium’s broadcast views.

The global crypto market cap increased by 0.92 per cent to $1.92 trillion at 8.35 am. The global crypto volume too increased by 7.63 per cent to $98.95 billion, as per Coinmarketcap data. 
 

Cryptocurrency Prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $42,359.91, higher by 0.72 per cent in the last 24 hours.

Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, was also trading higher by 0.36 per cent at $2,978.58.

"Bitcoin surpassed $43,000, however the market leader is currently trading around $42,400. Ether crossed $3,000 for a short duration, this spike was witnessed after a long time," says Gaurav Dahake, CEO and founder, Bitbns.

Among other major coins, Cardano (ADA) was up by 5.26 per cent at $0.9768, Algorand (ALGO) was down by 0.21 per cent at $0.817, Binance Coin (BNB) rose 0.21 per cent at $403.88, Solana (SOL) by 0.72 per cent at $90.91 and Polkadot (DOT) was trading higher by 5.84 per cent at $20.49.

Today’s top gainer was LoopSwap (LSWAP), which was up by 723.68 per cent at $0.00784. The top loser was xxxNifty (NSFW), which was down by 99.04 per cent at $0.000001709.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 1.04 per cent at $0.1225. Its volume to market cap ratio stands at 0.0366. Rival Shiba Inu (SHIB) also rose by 0.08 per cent at $0.00002338.

Dogelon Mars (ELON) was trading with a gain of 1.11 per cent at $0.0000007221. Floki Inu (FLOKI) was also up by 8 per cent at $0.00003222, while Samoyed Coin (SAMO) gained 1.02 per cent at $0.01697.

In the DeFi segment, YFI (yearn.finance) was trading with a loss of 2.94 per cent at $20,260.85. Terra (LUNA) was down by 2.6 per cent at $93.10, Avalanche (AVAX) lost 5.38 per cent to $84.29 and Aave (AAVE) fell 3.14 per cent to $159.42. Uniswap (UNI) was, however, up 1.14 per cent to trade at $9.83.
 

Latest Updates

Speaking at the Bank for International Settlements (BIS) Innovation Summit, Christine Lagarde highlighted that the amount of Russian rubles being used to buy crypto and stablecoins had risen sharply. She was quoted as saying by Coindesk, “We have taken steps to clearly signal to all those who are exchanging transaction offering services in relation to crypto-assets, they are accomplices to those trying to circumvent sanctions.

Steven Kalifowitz, chief marketing officer of Crypto.com, said in a statement, “No sport brings the world together like football, and no sporting event brings the world together the way FIFA World Cup does. Only a few brands have the privilege to participate as official sponsors, and we jumped at the opportunity to be the first brand to represent the crypto industry in this historic month-long event,” reported Coindesk.

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