Blockchain and Cryptocurrency News Roundup

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  • March 7, 2022
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07 March 2022

Here’s a short summary of some of the biggest headlines in Crypto. EU Ensures Russia Cannot Bypass Sanctions through Crypto, Says French Finance Minister Le Maire, Snowcrash Launches NFT platform, Working with Sony Music Entertainment and Universal Music Group, Crypto Market Cap Returns to $2 Trillion.

EU Ensures Russia Cannot Bypass Sanctions through Crypto, Says French Finance Minister Le Maire

French Finance Minister Bruno le Maire said on Wednesday that the European Union (EU) is looking for ways other than cryptocurrencies to impose EU sanctions on Russia, Reuters reported.

The EU is currently imposing economic sanctions on Russia in three situations over Moscow’s aggression against Ukraine, including freezing the assets of the Russian Central Bank and disconnecting seven Russian banks from the SWIFT financial information system.

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Snowcrash Launches NFT platform, Working with Sony Music Entertainment and Universal Music Group

Solana-based NFT marketplace Snowcrash has announced a partnership with Sony Music Entertainment and Universal Music Group to launch an NFT trading platform, bringing creative arts and digital innovation together.

Bob Dylan, Miles Davis, and emerging artist Varvara NFT series will also be launched in the coming months.

Filmmaker Jesse Dylan, the founder of Snowcrash, believes that what NFTs can do for non-profit organizations, NGOs, etc., is limitless. The NFT market currently seen by the public is just the “tip of the iceberg”.

He chose the Solana blockchain on the Ethereum network to launch the platform based on environmentally friendly conditions

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Crypto Market Cap Returns to $2 Trillion.

Global cryptocurrency markets have rallied strongly in recent days in the wake of the Russian invasion of Ukraine, with Bitcoin’s rising to $44,188 on Wednesday after falling to $36,370 last week. Other leading cryptocurrencies, including Ethereum, ripple, and Solana, were either flat or up at least 2%.

According to CoinGecko, the value of the cryptocurrency market was back at $2 trillion as of 10:15 a.m. ET, and the overall cryptocurrency market capitalization is now as high as $2.04 trillion.

The total cryptocurrency market value is still below the $3 trillion since four months ago.

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