Russia using Bitcoin, USDt for oil trades with China and India: Report  

Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.The exact terms of the court’s decision remain unclear, but Durov’s relocation has reignited debates about jurisdiction, privacy, and the responsibilities of tech leaders in combating illegal activities on their platforms.Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”The Telegram founder’s legal issues began on Aug. 24, when he was temporarily arrested at Le Bourget airport in Paris.French prosecutors accused Durov of running a platform that allegedly enables illegal activities, according to charges announced on Aug. 28, 2024.First report on Durov’s case in France since late 2024The unconfirmed reports suggest that Durov has either settled his case in France or received permission to leave the country while the court case is ongoing.Durov did not confirm his departure on social media by publishing time, while the French government officials are yet to issue a public statement, should the news be the case.As previously reported, Durov was abruptly arrested by French authorities at Le Bourget airport in Paris in August 2024.France’s Prosecutor’s Office, or Parquet de Paris, promptly issued a statement on preliminary charges to Durov on Aug. 28, accusing the Telegram founder of facilitating a platform that enables illicit transactions.The prosecutors claimed that Durov was facing up to 10 years of prison time in addition to a 500,000 euros ($550,000) fine.Durov was initially barred from leaving FranceDurov was released from French custody on Aug. 28 after posting a $6 million bail. However, French authorities required him to remain in the country and mandated his court appearance only upon the completion of the investigation.Additional reporting by Helen Partz.This is a developing story, and further information will be added as it becomes available.

Bitcoin needs to close above the key $81,000 weekly level to avoid more downside volatility ahead of next week’s Federal Open Market Committee (FOMC) meeting, which will offer investors more cues on the Federal Reserve’s monetary policy for 2025.Bitcoin (BTC) price fell over 3% during the past week, to trade above $83,748 as of 9:33 a.m. in UTC, Cointelegraph Markets Pro data shows.Bitcoin price continues to risk significant downside volatility due to growing macroeconomic uncertainty around global trade tariffs,  according to Ryan Lee, chief analyst at Bitget Research.BTC/USD, 1-year chart. Source: CointelegraphClosing the week above $81,000 will be key to avoid more Bitcoin downside, the analyst told Cointelegraph, adding:“The key level to watch for the weekly close is $81,000 range, holding above that would signal resilience, but if we see a drop below $76,000, it could invite more short-term selling pressure.”The analyst’s comments come days ahead of the next FOMC meeting scheduled for March 19. Markets are currently pricing in a 98% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool.Source: CME Group’s FedWatch toolThe outcome of the meeting may significantly impact Bitcoin investor sentiment, said Lee, adding:“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets.”“Even a dovish surprise, like a rate cut, might not be the immediate boost some are hoping for, as investors are still weighing macro uncertainties,” added the analyst.Related: US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserveBitcoin close above $85k may reignite investor optimism for more upside: analystOther analysts are seeing a silver lining in Bitcoin’s stagnant price action.A weekly close above $85,000 may inspire more investor confidence and lead to the next breakout, according to Enmanuel Cardozo, market analyst at Brickken real-world asset tokenization platform.The market analyst told Cointelegraph:“Traders and investors alike are keeping a close eye on the $80,000 support and the $85,000–$90,000 resistance, with a break above the latter potentially sparking a strong upward movement.”While Bitcoin’s short-term momentum may be limited by the upcoming economic releases, the regulatory developments around Trump’s Bitcoin reserve plan may gradually bring more market optimism and mass adoption, added the analyst.Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspensionTrump’s Bitcoin reserve came one step closer to fruition on March 14, after US Representative Byron Donalds introduced a bill that seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.If the bill is passed, it would ensure that the Strategic Bitcoin Reserve and the US Digital Asset Stockpile could not be eliminated via executive actions by a future administration.The bill will require at least 60 votes in the Senate and a House majority to pass. With Republicans holding a Senate majority — and amid a generally more crypto-friendly environment — the bill has a chance of passing.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1

David Sacks and his venture capital firm offloaded over $200 million in crypto and crypto-related stocks before he commenced his role as the White House AI and crypto czar, a White House memorandum disclosed.“You and Craft Ventures have divested over $200 million of positions related to the digital asset industry, of which $85 million is directly attributable to you,” said the memorandum dated March 5.Crypto sell-off in an effort to prevent conflict of interestThe memorandum said the “significant steps” were taken to reduce potential conflicts of interest before Sacks began his tenure as the White House AI and crypto czar — in which a major part of his role is to help create a legal framework for the crypto industry.Sacks offloaded all the “liquid cryptocurrency” in his portfolio, as well as Craft Ventures’ portfolio — the investment firm he co-founded in 2017 — including holdings in Bitcoin (BTC), Ether (ETH), and Solana (SOL) before US President Donald Trump’s inauguration on Jan. 20.The memorandum outlined which cryptocurrencies and crypto-related stocks David Sacks sold prior to Trump’s inauguration. Source: The White HouseSacks also divested from publicly traded crypto-related firms, including Coinbase (COIN), Robinhood (HOOD), and stakes in private digital asset companies.Additionally, he sold his limited partner interest in Solana-focused Multichain Capital and crypto-focused venture capital firm Blockchain Capital. At the same time, Craft Ventures offloaded its holdings in Multichain Capital and Bitwise Asset Management.Sen. Warren urged Sacks to prove he no longer holds cryptoThe memorandum is dated one day before Massachusetts Senator Elizabeth Warren urged Sacks in a March 6 letter to prove he no longer holds any digital assets, following Sacks’ claim in an X post that he sold off all his crypto.“Despite your public statements via X, it remains unclear exactly when you personally divested from BTC, ETH, and SOL, when Craft Ventures divested from Bitwise, and whether people close to you ‘may have held positions and sold into the recent price surge,” Warren said.Since Sacks started the White House crypto role, he has been a vocal advocate on various issues in the crypto industry, from the importance of a Strategic Bitcoin Reserve to not over-taxing the crypto industry.Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchSacks recently shut down the idea of crypto transaction taxes on an episode of the All In Podcast after host Jason Calacanis proposed charging a 0.01% tax on every cryptocurrency transaction.“That’s always how taxes start. They are described as being very modest,” Sacks said.“You know, when the income tax started, it only applied to like a thousand Americans, and the legislators swore up and down that it would never be applied to middle-class people,” Sacks added.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why