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Russia’s BITCOIN Ban ($15 Dollar Cardano?)
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Russia’s BITCOIN Ban ($15 Dollar Cardano?)

By: Discover Crypto | October 6, 2022

The E.U. tightens the grip on their sanctions against Russia, Cardano continues to gain momentum and is the SEC upset with Gary Gensler? Stick around to the end to find out! My name is Frankie Candles, this is your nightly crypto news wrap up, LET’S GET IT!

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Desperate Times…

In an attempt to slow down the funding of the war effort, the European Union has introduced another wave of sanctions against Russia. This is the 8th package of sanctions since Russia invaded Ukraine, a Putin and company are likely to feel the severity of this one. This comes with import and export restrictions, which will reduce Russia’s access to weapons as well as industrial and technological items…the import restrictions alone adds up to about 7 billion eros. On top of the oil price cap, the EU is also preventing Russia using crypto to their advantage. According to a press release earlier today, the EU states, “All existing prohibitions on crypto assets have been tightened by banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet,” Before, up to 10,000 euros was allowed, but now, that’s also a no go. Hopefully the E.U. succeeds in their effort to slow them down, but Russia doesn’t seem to care. Earlier today, Bitcoin Magazine tweeted out that the Chairman of Russia’s Congress Finance Committee said that the E.U.’s ban on Bitcoin and crypto “will only stimulate the development” of the market in Russia. Fingers crossed that this unwarranted violence comes to an end sooner than later and our thoughts and prayers go out to anyone affected by the war. Let’s pass it to Frankie Candles for a market watch.

$15 Dollar ADA?

Thanks Frank! Now that the Vasil hardfork is completed, Cardano is keeping the momentum going in more ways than one. The Cardano Foundation recently put out a tweet quantifying the bullish movement for the on chain statistics for the month of September. The fact the numbers for transactions, wallets, policies and smart contracts are all in the green, especially during a bear market, gets my HYPED thinking about what’s possible for ADA in the next bull run. Fellow YouTuber and founder of Crypto Capital Venture, Dan Gambardello, believes that a $15 dollar ADA could be in the cards in the years to come. Yes, that is an outrageous prediction, but hey, doing the moon math is half the fun, and if ADA went to 15 dollars, the Bitsquad would be set for LIFE! As the Age of Voltaire is upon us, and as Cardano continues to improve their metrics and ecosystem, it’s pretty hard for me to not get excited and do some moon math of my own! Keep in mind, right now until 13th of this month, you can buy ADA or any other crypto on Exodus with ZERO fees with Moonpay! Definitely worth it to get in on that while it lasts! If you’re a proud member of the ADA community, be sure to let us know in the comments. Also, Big shout out to our new in house CNFT project, Jpg Junkies, which will begin minting THIS Saturday! Be sure to check out their twitter and join their discord for more information!

SEC ANGRY at Dirty Gary!

Normally, we’re the ones that are mad at Gary Gensler, and how could we not be? He regulates by enforcement, consistently overreaches and this has gone unchecked for a long time…until now. After the way he handled the Kim Kardashian/ Ethereum Max debacle, now The SEC is even upset with ol’ Dirty Gary. Charles Gasparino from FOX business tweeted out that the SEC staff is complain about Gensler violating protocol by hyping up the Kim Kardashian settlement by appearing on CBNC within minutes of the case being announced. The whole thing is now being referred to as a “publicity stunt” since he used the TV time to try to prop up his reputation for the Treasury Secretary position. What a joke. In my opinion, Gary has done nothing except make the SEC look like a gang of power hungry hypocrites. It’s no secret that U.S. crypto regulation is the most inconsistent, egregious talking point of the past few years, and whenever they wise up and throw Gensler in the trash where he belongs, both sides of the fence will be better for it. That’s all I got.

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