Bitcoin, cryptos collapse amid Russian Ukraine invasion

Gen. Keane on Russia invading Ukraine: No amount of ‘tough’ sanctions will stop Putin

Fox News Senior Strategic Analyst Gen. Jack Keane (ret.) discusses Vladimir Putin’s military objective as Russia invades Ukraine and how President Biden should respond.

The cryptocurrency market is crumbling as Russia has launched a full-scale attack on the Ukraine.

Bitcoin, the world's largest cryptocurrency, tumbled to around the $35,000 per coin level. Meanwhile, rivals Ethereum and Dogecoin fell in sympathy trading at the $2,400 and 11 cent per coin levels.  

Other cryptocurrencies such as Cardano, Litecoin, Ripple fell sharply as did Bitcoin Cash, which is down more than 6% at $271 per coin.

STOCKS PLUMMET, BITCOIN HITS $35K, OIL NEARS $100

At least 40 people have been killed during Russia's attack Thursday, according to Oleksiy Arestovich, an adviser to Ukrainian President Volodymyr Zelenskyy. Russian President Vladimir Putin has called on Ukrainian forces to surrender and issued a stern warning to U.S. and NATO forces.

The debris of a privet house in the aftermath of Russian shelling outside Kyiv, Ukraine, Thursday, Feb. 24, 2022. Russia on Thursday unleashed a barrage of air and missile strikes on Ukrainian facilities across the country.  (AP Photo/Efrem Lukatsky / AP Newsroom)

"Anyone who tries to interfere with us, or even more so to create threats for our country and our people, must know that Russia’s response will be immediate and will lead you to such consequences as you have never before experienced in your history,'' Putin said, according to state-run news agencies RIA-Novosti and TASS, "We are ready for any turn of events."

President Biden is expected to announce a new round of harsh sanctions on Russia when he delivers remarks Thursday afternoon. 

"President Putin has chosen a premeditated war that will bring a catastrophic loss of life and human suffering," Biden said in a statement Thursday. "Russia alone is responsible for the death and destruction this attack will bring, and the United States and its Allies and partners will respond in a united and decisive way. The world will hold Russia accountable." 

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