Crypto Currency WARNING! Coinbase Cuts Off 25K Russian Wallets!

by Brian Shilhavy
Editor, Health Impact News

I have a digital wallet and have explored digital currencies in the past. But I have never felt comfortable putting major resources into cryptocurrencies for several reasons, the most obvious one being that it is dependent upon “the system,” which requires, among other things, electricity and a working Internet.

That alone is cause for red flags, but today the whole world can now know that cryptocurrencies are NOT a safe haven, as Coinbase, the largest US crypto exchange service, announced that they have cut off 25,000 Russian wallets. Apparently Binance will be doing the same thing.

ZeroHedge News reports:

Despite CEO Brian Armstrong having just the other day implored the public not to judge the company too harshly for continuing to service its accounts in Russia, Coinbase has now gone and done just the opposite: shutting down 25K wallets belonging to Russian customers due to suspicions about “illicit activity.”

Previously, Armstrong had vehemently insisted during a series of tweets that he wouldn’t deny anyone access to their Coinbase accounts for no good reason. Now, he’s apparently going back on his word to target a sizable portion of the company’s customers in Russia.

In a company blog post, Paul Grewal, Coinbase’s chief legal officer, announced that the largest US crypto exchange had banned access for sanctioned individuals. Cryptocurrency trading platform Coinbase said it had blocked over 25K wallet addresses related to Russian individuals or entities that it believes to be engaging in illicit activity.

The leaders of Coinbase and Binance have said they will comply with government mandates to restrict sanctioned individuals, but won’t ban all Russian users. (Full article.)

This follows news yesterday that Bitcoin and other cryptocurrencies lost value after reports “that President Joe Biden is set to sign a long-awaited executive order this week that will outline the U.S. government’s strategy for cryptocurrencies.” (Source.)

Cryptocurrencies have some advantages in certain situations, but this announcement today should blow the lid off of any idea that they are a “safe haven” to store wealth and assets.

Not only are they dependent upon the frail technology where they are stored, they are subject to tyrannical governments just the same as any currency stored in banks.

Look to hard assets instead, such as precious metals, and storable food. Once the economy crashes, look at converting some of your precious metals into usable real estate, particularly land that can be used to grow food.

See Also:

Understand the Times We are Currently Living Through

American Christians Want a New Jewish King to Become Slaves Instead of Serving Jesus Christ in Freedom

Where is Your Citizenship Registered?

American Christians are Biblically Illiterate Not Understanding the Difference Between The Old Covenant vs. The New Covenant

Exposing the Christian Zionism Cult

Jesus Would be Labeled as “Antisemitic” Today Because He Attacked the Jews and Warned His Followers About Their Evil Ways

Was the U.S. Constitution Written to Protect “We the People” or “We the Globalists”? Were the Founding Fathers Godly Men or Servants of Satan?

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Published on March 8, 2022

11 Comments

John 14:6 March 10, 2022 at 3:23 pm - Reply

Since English is not my first language, I always look at words differently and to me the word “crypt o” appears to be deriving from crypt keeper, so in other words, this is a current right out of hell. “Block-chain WALLet” also reminds me of the cells of hell. I don’t think they use these words by accident.

3ribs March 9, 2022 at 10:45 am - Reply

Cryptocurrencies are dependent upon Internet access but I think the Coinbase account lockout would only affect the ability to purchase coin through that exchange, or access your coin if you were foolish enough to use that exchange as a bank.  It would not affect your ability to transact with other end users’ wallets using coin in your wallet.  Crypto is not foolproof but it’s at least decentralized enough to maintain electronic funds transfer where a frozen bank account would not, for now.

Anne March 9, 2022 at 10:13 am - Reply

I always believed that globalists created and controlled the crypto currency market to begin with.  On the 2021 federal 1040 tax form.  There is a section that asks if you have sold or purchased cryptcurrencies in 2021.  Not sure if it’s taxable or not yet.

jd March 9, 2022 at 1:53 pm - Reply

just remember the old sayings, a fool and his money are soon parted, and there’s a sucker born every minute, or nowadays every second.

Bushido March 9, 2022 at 10:01 am - Reply

There are some basic misconception.
The whole crypto philosophy is opposite to centralized exchanges.
Crypto means hidden, encrypted.
So the correct way is to buy crypto from decentralized exchanges,which no government or agency can take them down nor xan the give any information about costumers.
Then there are truly private coins that can’t be traced just like cash.
Crypto don’t need to be backed by precious metals to have value,their value comes from    the technology they create (similar but much better than internet in the 90’s) and their limited supply.
For example gold is nowhere near rare,they just mine it periodically.
Bitcoin on the other hand has a fixed supply,21 million for 8 billion people.
Finally if you put your crypto in a digital leger (cold wallet) no one can takeit away from you,it is not in the exchanges centralized or decentralized.
You can’t take precious metals with you,too expensive,too dangerous,too heavy,etc and if you leave it in banks etc they will confiscate it.
With crypto in your cold storage you can move freely and you only need to memorize your seed phrase and you’re good to go.
Real crypto is not centralized,it is decentralized and against the political and economic ruling system.

Brian-Admin March 9, 2022 at 10:35 am - Reply

But it is still dependent on electricity to store, and the Internet to spend, correct?

“You can’t take precious metals with you,too expensive,too dangerous,too heavy,etc”

This is not true. With Gold over $2000 an ounce currently, a very small 1/10th oz. coin, for example, is easy to carry, and very valuable.

jd March 9, 2022 at 1:48 pm - Reply

and the honesty and integrity of the owners, which i would say is worth about zero.

CK March 9, 2022 at 10:50 am - Reply

one has to be very naïve to believe that those who have controlled the monetary system for thousands of years can lose control to to cryptos. Bitcoin and other cryptos were created to get the masses used to digital currency which will lead to a total digital surveillance, and just like they are getting them used to virtual reality aka digital prisons with the insanity of NFTs. The system provides everything to the masses, nothing is organic, especially the cryptos

jd March 9, 2022 at 1:46 pm - Reply

that’s okay bushido, put all your trust that is nothing more than 1’s and 0’s floating around in cyberspace that has no physical presence, even dollars that are fiat have a physical presence, and that can disappear in the blink of an eye. i’ll be roflmfao when poof all crypto suddenly vanishes.

jd March 9, 2022 at 9:25 am - Reply

i have never trusted crypto, despite people telling me how they’ve made a lot of money in it just like people in the stock market just before it crashes, due to the vulnerability of it’s base. someone just hitting a kill button or swiping a hard drive with a big magnet and poof, it’s gone. besides i have never trusted where the companies are run from as i’ve suspected there real bases are in red china or noko. also notice the first 5 letters spell crypt as in a burial chamber. and don’t you just love this country being run by diktat of pedojoe instead of legislative action? joe stalin would be so proud.

CK March 8, 2022 at 2:54 pm - Reply

and the masses think crypto is the solution to fiat currencies. Same entity that controls the money system created cryptos. As much as i despise the current monetary system cash is freedom and not traceable. The new digital system will enslave humanity like never before. The only way someone can be stopped from buying and selling unless you have the number of his name.