The Russian ruble has lost significant value against both dollars and Bitcoin following sweeping sanctions from western nations, and the cutoff of major regional banks from SWIFT. Citizens are now flooding local ATMs with cash withdrawal requests while the Bank of Russia urges for calm. Bitcoin is also soaring against the falling currency, which now costs 3,820,000 RUB per coin at the time of writing – the highest price seen all year. “At the moment, the ruble is in a state close to free fall,” said Alex Kuptsikevich of FxPro in a report. Bitcoin initially fell on news of Russia’s invasion, but quickly rebounded afterward and is now trading above $40k. The central bank had to increase the amount of . . .
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