Crypto Briefing for February 21, 2022

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Binance is the first cryptocurrency company to support the Russian Banking Association to regulate the country’s burgeoning cryptocurrency market. The platform will also work with Moscow officials trying to create regulations for the region.

Elon Musk has revealed that the meme currency Dogecoin will be accepted at Tesla's next futuristic restaurant and drive-in movie in the Hollywood area. On its website, the electric car maker currently accepts DOGE in limited quantities.

Ricardo Salinas Pliego, Mexico's third-richest man, advised Twitter users to buy bitcoin, keep buying it while it's still cheap, and hold the cryptocurrency without fear of selling it. "Trust me, you'll thank me later," he said.

Kevin O'Leary or Mr. Wonderful from the Shark Tank show believes that the price of Bitcoin will explode in the next few years as institutions gain approval from their compliance departments to invest in cryptocurrencies.
According to Kevin O'Leary, when institutions can finally buy Bitcoin, it will rise to $100,000, $200,000, and $300,000.

According to Chainalysis' 2022 Crypto Crime Report, Russia has become a center for cryptocurrency crime. A large number of organizations and individuals in the country are active in ransomware and money laundering, some of which have been sanctioned by the United States.

U.S. Senator Cynthia Lummis of Wyoming said that the Federal Reserve (Fed) buying bitcoin would be a “wonderful idea.” Lummis has long been a supporter of cryptocurrencies and she bought her first Bitcoin in 2013!

Despite the price volatility, more than 60% of bitcoins have not left their wallets for at least a year, according to on-chain analytics firm Glassnode. In its portfolio, the proportion of available supply is also largely stable.

The colored bars represent the percentage of existing bitcoins that were last traded on the legend time frame.

Digital asset custody provider Fireblocks has agreed to acquire First Digital for $100 million. Fireblocks' first acquisition comes less than three weeks after the company announced it had raised $550 million in Series E funding.

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