Bitcoin jumps 10% after Treasury imposes new sanctions against Russian central bank

By Saransh Raina

The crypto market rose on Monday after the Treasury Department imposed new sanctions against Russia’s central bank.

Bitcoin jumped 10.4% to $41,807.16, while ether rose 7.6% to $2,826.54. U.S. equities were down sharply earlier in the day before recovering a big chunk of their losses. The sanctions unveiled by the Biden administration would effectively prohibit Americans from doing business with the Russian central bank and freezes assets within the U.S.