- \n
- Russia will partially pull troops from Ukraine\u2019s border, Putin said during a meeting with German Chancellor Olaf Scholz<\/li>\n
- Putin promises to strive to resolve the crisis \u201dby taking a diplomatic path,\u201d prompting a surge in global markets<\/li>\n<\/ul>\n<\/div>\n
Russia to \u2018partially pull back troops\u2019 from Ukraine\u2019s border<\/h3>\n
Equity and crypto prices surged today after Russian President Vladimir Putin said<\/a> Russia had decided \u201cto partially pull back troops\u201d from Ukraine\u2019s border.<\/p>\n
This is the most positive news that has come out of the recent Russia-Ukraine tensions. The announcement helped reverse a sell-off prompted by US Secretary of State Antony Blinken’s announcement<\/a> yesterday that the US was moving its Ukrainian embassy out of Kyiv \u201cdue to the dramatic acceleration in the buildup of Russian forces.\u201d<\/p>\n
In a press conference with German Chancellor Olaf Scholz, Putin reiterated his concerns over NATO\u2019s expansion to the east, among other things, but offered the prospect of a deescalation.<\/p>\n
\u201cWe are also ready to continue on the negotiating track, but all these questions, as has been said before, must be viewed comprehensively,\u201d Putin said.<\/p>\n
\u201cWe intend to and will strive to reach agreement with our partners on the questions that we posed, in order to solve them by taking a diplomatic path,\u201d he added.<\/p>\n
Investors welcomed news of the positive meeting between Scholz and Putin. The S&P 500 rose by almost 1.6%, and the Nasdaq and Dow also jumped 2.47% and 1.22%, respectively. <\/p>\n
Crypto saw a huge pump with bitcoin climbing almost 3.5% and ether jumping 5.77% by the close of US equity markets. Avalanche, a newer coin that has crept into the top 10 coins by market capitalization, jumped over 12% on the day.<\/p>\n
Top stories<\/h3>\n
Story<\/a>: Crypto Platform Voyager Keying in on Staking, NFTs in 2022<\/p>\n
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- The company is investing in a number of new business lines to reduce reliance on trading volume, CEO Steve Ehrlich said on a Tuesday earnings call<\/li>\n
- Voyager is building an NFT offering that will allow customers to access a variety of marketplaces<\/li>\n<\/ul>\n
Story<\/a>: Fidelity International Enables Direct Investment in Bitcoin<\/p>\n
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- Fidelity International\u2019s bitcoin ETP began trading in Germany on Tuesday and is expected to launch in Switzerland in the coming weeks<\/li>\n
- Since 1980 the firm has operated independently of US-based Fidelity Investments, which still seeks to launch a spot bitcoin ETF<\/li>\n<\/ul>\n
Story<\/a>: Democratic Rep: Stablecoin Issuers Don\u2019t Have To Be Banks With 100% Reserves<\/p>\n
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- US Senators met Tuesday to discuss stablecoin regulation<\/li>\n
- Stablecoin issuers shouldn\u2019t have to be banks as long as their reserves are secure, one representative argues<\/li>\n<\/ul>\n
Story<\/a>: JPMorgan Enters the Metaverse With Virtual Decentraland Lounge<\/p>\n
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- Analysts from the bank predict in-game ad spending will reach $18.4 billion by 2027<\/li>\n
- The average price of virtual land doubled from $6,000 to $12,000 in six months last year, according to JPMorgan<\/li>\n<\/ul>\n
Going forward<\/h3>\n
Continued deescalation of tension on the Ukrainian border should push markets higher, though looming inflation figures and Fed rate hikes may shake things up. The St. Louis Fed president and the Cleveland Fed president are scheduled to speak on Thursday, which could also spook markets. <\/p>\n
Investors should prepare for some level of volatility going forward.<\/p>\n
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