Canadian platform

Bitcoin and Ethereum prices surge as Russian-Ukraine relations remain a factor.
More altcoins were affected by the avalanche surge this weekend.
SEC orders BlockFi to pay $100 million in penalties for its schemes.
Bitcoin and Ethereum prices have surged as the global crypto market hovers on the green side of the chart, with tensions surrounding Ukraine alleviating, prompting renewed interest for digital assets from investors.

For the first time since the end of last week, the largest cryptocurrency by market value, Bitcoin, saw an increase of as much as 5.2%.

The surge also affected other digital tokens, with Ether spiking to 7% to over $3,108.17 and Aave about 7%. At one point, XRP had an increase by 4.58% at $0.8331, while Solana shot up to 8.39% at $102.20.

Polygon’s price went up by 9.63% at $1.79. More altcoins, particularly Dogecoin and Shiba Inu, were up by 2.79% at $0.15 and 2.79% at $0.00003129, respectively.

On Tuesday, Russia announced that some troops are returning to their regular bases after concluding their drills, resulting in US equity round-up and stocks spikes. However, US warnings of a possible Russian attack on Ukraine have been magnified this week.

In other news, cryptocurrency lending platform, BlockFi, will pay $100 million in penalties to settle legal actions against its business scheme, as announced on Monday by US securities regulators.

According to Cornerstone Research, this is the highest penalty since it tracked lawsuits in 2013.

This case came just in time as the Securities and Exchange Commission (SEC) seeks to initiate a regulatory authority governing digital currency services that would treat them as investments rather than a form of money.

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has announced the signing of a Memorandum of Understanding to build a strategic partnership with YG Entertainment Inc. (YG), one of South Korea’s leading multinational entertainment corporations.

As part of the strategic partnership, Binance and YG will cooperate on a range of blockchain projects, including collaborations in the NFT space. Binance will provide the NFT platform and technology infrastructure while YG will supply NFT content and gaming assets.

The two companies also have plans to develop Binance Smart Chain-based games, collaborate on building the Metaverse, and actively pursue various digital asset opportunities to develop unique experiences and services for fans.

It is expected that the partnership between Binance and YG will create positive synergies between the two firms. A number of world-renowned Kpop stars are managed by YG, including Big Bang, Blackpink, Winner, iKon, AKMU, and Treasure. YG has immense potential to develop digital assets, including NFTs, using their intellectual property (IP) rights in a wide range of business fields.

NFT, which stands for non-fungible token, is a one-of-a-kind digital token that allows artists to share their content in a unique way. The growth of NFT is paving the way for a change in the paradigm of the music and Kpop industry by serving more than just a consumption purpose for fans.

Kpop has been at the forefront of the Korean Wave, attracting millions of fans around the globe. It is expected that the MoU with Binance will allow YG to more actively extend its growth in the NFT market.