Russians Looking to the UAE to Unload Billions in Crypto Assets

[Yo_Mama_Been_Loggin]

Cryptocurrency firms based in the United Arab Emirates (UAE) have been hit with a flood of requests by Russian clients to liquidate billions of dollars worth of digital assets, Reuters reported on Friday.

One crypto executive claims to have received a number of requests from Swiss brokers over the past few days to liquidate billions in bitcoin (BTC), with not one of those requests being for less than $2 billion.

“We have one guy – I don't know who he is, but he came through a broker – and they're like, 'We want to sell 125,000 bitcoin.' And I'm like, 'What? That's $6 billion, guys.' And they're like, 'Yeah, we're going to send it to a company in Australia.'"

Other Russians are looking to use their crypto to invest in property in the UAE, the report continued. Dubai has for years been a popular destination for Russians, and they've been among the top visitors and buyers of real estate there long before the Ukraine invasion began.

https://finance.yahoo.com/news/russians-reportedly-looking-uae-unload-172250301.html

All that money they made from ransomware.

[Hugin]

1. Hey kids, I will trade you straight across for these swell NFTs I ran off just now...

By sitting on the all-in-one scanner over there.

Each is unique! Swear! Bruh!

[keithbvadu2]

3. It looks like Melania sold her NFT to herself. Might be still available.

https://www.google.com/search?client=firefox-b-1-d&q=did+melania+sell+her+nft

[blue-wave]

2. This is why we need

a world-wide system for crypto that runs on a ledger like the XRP token and Ripple ledger. This could be shut down in an instant if we had clarity (regulation!!) and adoption of the crypto's with actual utility (meaning an actual use). The crap the Russians are pulling with this stunt is what gives crypto a bad name.

[Amishman]

4. And that is why few want that

After the Trump years, not sure I'd want to use an electronic currency with any government possessing a kill switch or override

[blue-wave]

10. That "override" you mention

is regulation. FYI, all societies are regulated to one degree or another. If there is never regulation in crypto, we will have lawlessness in the sector and we will get more Putin's, mobsters, human traffickers and on and on taking advantage of a system that let's them do as they please.

A well regulated capitalism, just as FDR advocated, will help avoid the criminal aspect to any system.

[rockfordfile]

7. Crypto is crap. It causese tech to be more expensive and un-available.

[Scrivener7]

5. I don't understand crypto. Will these guys get their money?

[lame54]

8. Block-chain, block-chain, NFT, block-chain...

Now, you're up to speed

[Scrivener7]

9. Knit, purl, slip one, knit, pass slipped stich over.

It's a cable knit pattern!

[lame54]

6. How much does that weigh?