While North American investment products got USD 95 million in inflows, European ones registered USD 59 million in outflows. Bitcoin received USD 17 million despite the volatility causing the price to drop below USD 34,000.
A report from CoinShares indicates that the crypto market got USD 36 million worth of inflows in the last week. The global economic recession due to the invasion of Ukraine by Russia has not prevented that from happening.
There were sharp differences in the fund flows between North American and European investment products. The former experienced USD 95 million in inflows, and the latter suffered USD 59 million in outflows.
In the case of cryptocurrencies, Bitcoin got inflows for the fifth consecutive week, registering USD 17 million. The numbers remain optimistic despite the volatility that led the price of the pioneering cryptocurrency below USD 34,000.
Bitcoin is trading at around USD 42,487 and has accumulated a gain of 10.8% in the last seven days. Its daily trading volume is above USD 22.11 billion, and its market capitalization is about USD 806.13 billion, according to CoinGecko.
Israel Seizes Cryptocurrencies from 30 Wallets Funding Hamas
The Israeli authorities recently seized 30 cryptocurrency wallets from 12 exchange accounts. They confirmed the connection of those addresses with the terrorist group Hamas, whose headquarters is in the Gaza Strip.
A local media outlet stated that al-Mutahadun had helped Hamas with funds amounting to tens of millions of US dollars.
The exact amount and the specific crypto assets that the authorities seized are still unclear. However, the Israeli officials believe that Hamas uses tens of millions of US dollars worth of crypto funds to finance its military.
The University of Cambridge Launches a New Crypto Project
The University of Cambridge recently announced it would launch a new cryptocurrency research project called The Digital Assets Program.
Over 16 leading companies and international organizations will work together to provide data on industry challenges and ecosystem trends. The International Monetary Fund (IMF) and the World Bank will sponsor the research project.
The new program will primarily research the environmental impact of cryptocurrencies, their infrastructure, and DeFi mechanisms.
The Sanctions of the US Department of the Treasury against Russia Include Cryptocurrencies
The US Department of the Treasury requested US-based companies and individuals not to transfer cryptocurrencies to certain Russian citizens and banks.
Residents of the United States cannot use crypto assets to help the government and the central bank of Russia circumvent US sanctions. The guidelines will equate crypto transactions with deceptive transactions or deals seeking to avoid the restrictions.
Janet Yellen, the Secretary of the Treasury, said their actions aimed to prevent Russia from using crypto assets to fund destabilizing activities. They also seek to target the funds on which Putin and his inner circle depend to enable their invasion of Ukraine.
Last week, President Joe Biden announced that the United States and its allies would impose sanctions against five large Russia-based banks. He also said that those restrictions would affect several elite citizens that had become rich at the expense of the Russian state.
By Alexander Salazar
