You can read the Digest here:

• Falles below $41K in Russia-Ukraine Crisis heats up, Ukraine legalizes crypto.
• Warren Buffett into crypto, Sequoia Capital launches crypto fund, Circle’s valuation climbs $9 billion.
• FBI creates crypto crime unit; DoJ names new director of crypto team
• Binance has suspended all Israeli activities, Coinbase (NASDAQ) restarts advanced trading.

Bitcoin drops below $41K due to Russia-Ukraine Conflict Heats Up. Ukraine Legalizes Bitcoin

Bitcoin lost its gains after trading above $44k, for the first week in a row. Bitcoin’s price has fallen by over 6% in the past 24 hours. It fell from $43.4k to $40,249.37.

Here is the 24-hour price chart for Bitcoin (BTC). Source: Tradingview

Bitcoin trades at $40,800, and its market capital has dropped from $842 billion to $770 billion as of writing. With the crypto market in general experiencing a plunge, the price of the 100 most popular cryptocurrencies has dropped by double digits.

This plunge into red of cryptocurrency has been linked to rising tensions in war between Russia, Ukraine and the forthcoming Crypto executive order by President Joe Biden.

Flipsider:

• No matter what the crypto panic and fears, the Parliament of Ukraine supported its final reading for an amended bill to legalize Bitcoin.

• The motion was approved by the Ukrainian parliament. A new law regarding virtual currencies is now in effect. Bitcoin and other cryptocurrency are legalized in Ukraine.

Warren Buffett into Crypto, Sequoia Capital Launches Crypto Fund, Circle’s Valuation Climbs $9 Billion

Warren Buffett was a multi-billionaire investor and became famous in the crypto community by calling Bitcoin an “adventure”. rat poison,He appears to be his first cryptocurrency investment. Buffett’s company, Berkshire Hathaway (NYSE:), has bought stocks worth $1 billion in a crypto-friendly bank.

An SEC filing revealed the investment made by Buffett’s company in Nubank, the largest digital bank in Latin America. NuInvest is a digital bank’s investment unit that allows customers to invest in cryptocurrencies.

As crypto funds become more popular, Sequoia Capital has revealed that it is looking to raise $500 – $600 million for a new crypto fund. The fund, dubbed the ‘Sequoia Crypto Fund,’ will focus primarily on investing in liquid tokens and digital assets.

Circle, the USDC stablecoin issuer, has doubled the value of its company from $4.5 to $9 billion. By updating the terms of its deal with Concord Acquisition Corp, the improvements to Circle’s financial outlook can be seen in its freshly acquired $9 billion valuation.

Flipsider:

• Infinity Ventures Crypto announced that it has closed its $70 million initial funds and is now focusing on global GameFi, DeFi and Web3.0 innovation.

What You Need to Care About

The increasing number of venture capital firms making their way into the cryptoverse is seemingly being driven by their investors’ ever-increasing demand for crypto exposure.

FBI Creates New Crypto Crimes Unit; DoJ Appoints Crypto Director

Days after Bryan Vorndran, the assistant director of the FBI’s Cyber Division, called crypto “the primary vehicle used for extortion,” the FBI has launched a new National Cryptocurrency Enforcement Team (NCET).

To evaluate cases of crypto crimes that might require additional resources, the FBI created a group of crypto specialists to assist in investigating and prosecuting them. They will concentrate on crypto-service providers such as tumblers and mixers.

Announcing the formation of the NCET, Deputy Attorney General Lisa Monaco added, “I think we are sending a message that cryptocurrencies and virtual currencies should not be considered a safe haven.”

Eun Young, long-serving prosecutor, was named the NCET’s first director in a follow up press release by the Department of Justice. Choi will head the team investigating and prosecuting illegal cryptocurrency schemes.

Flipsider:

Governor Jared Polis, Colorado AnnoucedTaxes will begin to be due in crypto-based states as soon as this summer.

What You Need to Care About

Monaco said in an earlier statement that to enable crypto to take over banks, these systems are necessary for the users to gain confidence and support the industry’s growth.

Binance suspends all activities in Israel; Coinbase resumes advanced trading

Within hours of coming under investigation in the U.S, the world’s largest crypto exchange, Binance, has been hit with what could be considered an even harder blow in Israel. Following regulatory intervention, Binance was forced to stop all activity in Israel.

According to reports, Israel’s Capital Markets Authority asked Binance to clarify its activities in the Israeli market. Binance is required to clarify its services and licenses for Israelis.

Flipsider:

• Binance has been hit with a serious roadblock. Coinbase however, is the most popular U.S. cryptocurrency exchange and has reopened its advanced trading function, giving traders access to the orderbook.
• Coinbase suspended temporarily the featureAfter a white-hat hacker, going under the pseudonym @Tree_of_Alpha, alerted the exchange of an insecure vulnerability in its trading system.