The prices of Bitcoin and Ethereum plunged Wednesday night after news of a “special military operation” in Ukraine by Russia. Bitcoin dropped back below $35,000, and Ethereum dropped below $2,400.
It’s been a slow start to the year for crypto. Bitcoin dropped below $34,000 in January — the lowest Bitcoin’s price had been since July 2021. After climbing back up and staying above $40,000 for most of February, Bitcoin dropped back into the $30,000 range on Friday, and lagged throughout the weekend. Ethereum’s price also dropped in recent days.
Meanwhile, a New Jersey lawmaker released an early draft of a bill on regulating the stablecoin market. The New York Stock Exchange filed a trademark application for its own NFT marketplace. Colorado will begin accepting crypto payments for taxes by the end of summer. JP Morgan has officially entered the metaverse. And crypto exchange Coinbase will allow crypto recipients in Mexico to cash out in local currency.
