Bitcoin resumed its decline amid the collapse of the Nasdaq. Former US Federal Reserve Chairman Ben Bernanke criticized BTC. Cryptocurrency can be legalized in Russia as a means of payment. Bitcoin was down 3% on Wednesday, ending the day near $29,200. BTC resumed its decline amid a sharp weakening in US stock indices, which fell even more than the first cryptocurrency. The Nasdaq and S&P 500 lost over 4% on the day. Experts from the business school of the British Durham University believe that the tightening of the Fed’s monetary policy reduces profits from crypto assets. At the same time, the decisions of other regulators of the largest economies in the world have almost no effect on the crypto market. Former US Federal Reserve Chairman Ben Bernanke called bitcoin a harmful currency. He lashed out at cryptocurrencies, calling them “a great ransomware tool.” Binance lost $1.6 billion due to the collapse of Terra tokens, which were on the balance sheet of the exchange. Billionaire Bill Ekman said that one of the main reasons for the collapse of Terra was a pyramid scheme of business. Investors were promised a 20% return backed by a token whose value was driven by demand from new investors. The U.S. Supreme Court has rejected a petition from USDT issuer Tether to stop CoinDesk from publishing details of the stablecoin’s reserves. The total volume of USDT in circulation decreased by $9 billion over the week, to $74 billion. Birgit Rodolph, executive director of the German Federal Financial Supervisory Agency, called for the creation of universal regulation of the DeFi industry throughout the European Union. Cloudflare has announced plans to launch full-fledged nodes for validating Ethereum transactions. The company will need to purchase ETH in order to use the coins for staking. Real Vision TV CEO Raul Pal noted that despite a number of negative factors, Ethereum did not fall to last year’s lows, as Bitcoin did. At the same time, Bloomberg warns about the risks of Ethereum collapse by 80%, to $420. Microsoft has warned crypto investors about the rise in activity of a new type of malware called Cryware, which allows you to steal assets from hot crypto wallets. First Deputy Chairman of the Central Bank of the Russian Federation Olga Skorobogatova said that people have the right to “play with cryptocurrencies at their own peril and risk,” but this should not be confused with serious investments. The head of the Ministry of Industry and Trade, Denis Manturov, said that cryptocurrency in Russia can be legalized as a means of payment. According to him, it is a matter of time. Source: FXPro

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