UAE Cancels Licence for Russia's MTS Bank, Bittrex to Shut down US operations, US Government to Sell 41K Bitcoin

The Daily Leo #242

alokkumar121

Apr 1

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Welcome to another edition of Daily Leo! We pick the best articles in Finances, Crypto news, and Hive/Leo into one condensed information-packed space.

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UAE cancels license for Russia's sanctioned MTS Bank

The United Arab Emirate’s central bank has confirmed that they are going to cancel the license of Russia's MTS bank which was granted last year. This decision has been taken due to sanctions risks associated with the bank

Investors believe the stock market is set for losses

The first quarter has been positive this year in the stock market and now Wall Street investors believe that the market is heading toward a loss. This can also be because of the correction cycle which happens often in any market

Ethereum’s L1 would have no problem interacting with zkEVMs

Ethereum has been facing criticism because of transaction delays and network congestion along with the higher fees for the transaction. Vitalik has shared an update about making ethereum better. As per the ethereum's founder, the project’s nodes would have no problem with zkEVM participation

Bittrex to shut down US operations

The Securities and Exchange Commission (SEC) has been creating issues for crypto exchanges in the US and even Binance has been going through similar challenges. Now Bittrex crypto trading exchange has announced that they are going to wind up their exchange operation in the US however there is no change in other countries they are operating

US government plans to sell 41K Bitcoin

The US government is planning to sell over 41,000 Bitcoin. These were seized as part of a case connected to the Silk Road and the government is expected to sell all bitcoins in 4 batches. They have already sold 9,861 BTC this month on 14th March and now they are left with roughly 41,491 BTC which they are planning to sell

Hive-Backed Dollar Rate Hard Coded Into The Blockchain

HBD aka Hive Backed Dollar is the stablecoin on the hive blockchain and this can also be considered one of the decentralized stablecoins. This has been doing well and by keeping HBD in savings, we can earn an APR of 20% which is very good. The price stability is very important and APR on the HBD that is locked up to Hive bonds should be written into the blockchain

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