First Mover Asia: The Renminbi Rises; Cryptos Suffer Another Lost Weekend

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First Mover Asia: The Renminbi Rises; Cryptos Suffer Another Lost Weekend
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Citing data from SWIFT, traditional finance's closed ledger for interbank fund transfer, China media said the value of RMB payments rose by 10.85% compared with December...Crypto prices fell over the weekend. thesamreynolds and JPRubin report

Bitcoin tumbled below $40,000 in the early weekend hours and kept dipping amid rising tensions on the Ukraine-Russia border and continued inflationary fears. Ether and almost all other major cryptos also dropped.

All these factors may have"led investors to risk-off from crypto," said Joe DiPasquale, the CEO of fund manager BitBull Capital. The declines came as U.S. intelligence reported that Russia had already decided to invade Ukraine. On Sunday, U.S. Secretary of State Antony BlinkenCNN's State of the Union talk show that “everything leading up to the actual invasion appears to be taking place. All of these false-flag operations, all these provocations to create justifications — all that is already in train.

to around 500 per week from 10,000 pre-coronavirus pandemic; only a fraction of these are from Russia. Oil is still priced globally in U.S. dollars .

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