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Deribit to exit Russian market, blames EU sanctions

Cryptocurrency derivatives exchange Deribit is shutting down its services for Russian users to comply with European Union sanctions. The company, headquartered in the Netherlands, announced that it will enforce trading restrictions beginning Feb. 17, with full account closures set for March 29. In a notice posted on Feb. 5, Deribit stated that Russian nationals and residents would no longer be able to access its platform unless they meet specific exceptions. Russian users residing in European Economic Area countries or Switzerland will still be permitted to trade. However, Russian nationals living in non-EEA countries, as well as Russian businesses, are entirely restricted from using the exchange. You might also like: Trump Media files trademarks for Truth.Fi Bitcoin and energy ETFs EU’s sanctions vs Russia The decision follows the EU’s ongoing financial sanctions against Russia. Users impacted by the restrictions will be placed on “reduce-only” mode, allowing them to close existing positions but preventing new trades. Withdrawals will remain available even after the final closure date. NEW: In response to EU sanctions, the Deribit exchange is withdrawing its operations from Russia. pic.twitter.com/afD0poSlYz — Simply Bitcoin (@SimplyBitcoinTV) February 6, 2025 You might also like: DOGE and SHIB mooned after this, Agent A.I. could be next CoinOtag

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MicroStrategy Rebrands As the Corporate Bitcoin (BTC) Whale Posts Fourth Consecutive Quarterly Losses: Report

The largest corporate holder of Bitcoin ( BTC ) is trying a new name as reports of a year of losses begin to surface. Yesterday afternoon, Michael Saylor’s MicroStrategy announced a rebrand to simply “Strategy”. According to the announcement, the new name and logo will focus on reaching a wider audience as the company hopes to have a wider appeal. Says Saylor of the new look BTC corporate whale, “Strategy is one of the most powerful and positive words in the human language. It also represents a simplification of our company name to its most important, strategic core. Antoine de Saint-Exupery said, ‘Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.’ After 35 years, our new brand perfectly represents our pursuit of perfection.” The announcement was made just before Strategy posted quarterly earnings. According to a Reuters report , those earnings showed a fourth consecutive quarter of losses, adding up to one full fiscal year. Per Reuters, Strategy lost over $1 billion last quarter alone. During that quarter, Strategy bought 218,887 BTC for $20.5 billion, the company’s largest purchase yet. Strategy is showing no signs of slowing down. Two weeks ago, shareholders voted to raise more funds to buy more BTC. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Art Furnace The post MicroStrategy Rebrands As the Corporate Bitcoin (BTC) Whale Posts Fourth Consecutive Quarterly Losses: Report appeared first on The Daily Hodl . CoinOtag