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Source: Adobe/sdx15 In a bid to comply with the European Union’s sanctions on Russia, major crypto exchange Kraken has unveiled its move to restrict and eventually shut down services for Russian accounts. The latest development follows the adoption of new Brussels-led penalties in response to Moscow’s continued aggression against Ukraine. “Due to the new European legislation, we have to take measures to restrict your Kraken account. We will update our support center if there are any changes. We apologize for the inconvenience caused,” the firm said in a letter addressed to its users, obtained by financial news site Financefeeds.com “Since the EU’s announcement, we have been working to make the changes needed to comply with the latest package of sanctions against Russia,” according to the statement. At the same time, Kraken recognized that it will enable its Russian customers to withdraw funds from their accounts. The company ...

Join Our Telegram channel to stay up to date on breaking news coverage With over $450 million in volume over the last 24 hours, Terra Classic is still one of the most actively traded cryptocurrencies. Earlier today, Binance said its most recent burn attempts irreversibly deleted approximately 3 billion LUNC, or roughly $1 million. Binance, the biggest cryptocurrency exchange in the world, said in late September that its CEO, Changpeng Zhao, will honour a 1.2% burn on the transactions tax retroactive to September 21. More than 5.5 billion LUNC were destroyed in the first LUNC burn, which lasted from September 21st to October 1st, and another 2.9 billion were destroyed in the second LUNC burn, which lasted from October 1st to October 8th. Binance has lost over $3 million due to the burn, but most LUNC trades have occurred on the exchange’s platform since the news. There Has Been an Effort to Burn More LUNC Binance has destroyed 8,588,471,344.33 LUNC due to the burn, whi...

Join Our Telegram channel to stay up to date on breaking news coverage Coinbase, the largest digital currency exchange in the United States, revealed in a tweet that it plans to add support for Pangolin (PNG) — a cryptocurrency that was developed on Avalanche’s network. The token will be the first cryptocurrency based on the  ARC-20 token model to be listed on Coinbase. The exchange also added a warning not to send this asset over other networks, or the funds may be lost. Coinbase will add support for Pangolin (PNG) on the Avalanche network. Pangolin (PNG) is the first Avalanche ARC-20 token to be offered on our exchange. Do not send this asset over other networks or your funds may be lost. — Coinbase Assets (@CoinbaseAssets) October 5, 2022 Pangolin price skyrockets following the announcement The announcement was a huge deal for the token, which saw its price skyrocket by more than 33% in 24 hours alone. Right before the announcement, the token...