Russians turn to crypto amid increasing sanctions - March 2, 2022

President Joe Biden’s State of the Union address focused on Ukraine, inflation and the pandemic, garnering a positive reaction among nearly three-quarters of Americans who watched. Good marks are typical for presidential addresses to Congress – the president’s overall approval rating remained at 44% Tuesday morning. Few wore masks in the House chambers Tuesday night in accordance with the masks-optional guidance issued by the Capitol’s attending physician earlier this week. The harsh sanctions imposed on Russia and the resulting crash of the ruble forced the Kremlin to find workarounds to the Western economic blockade in gold reserves and cryptocurrency. Bitcoin jumped 13% since Monday and other cryptocurrencies moved higher following the ruble’s plunge. Analysts believe virtual currencies will gain more traction amid volatility stemming from geopolitical tensions. To get inflation under control, Biden called on companies to lower their costs and not their wages, as well as increasing the federal minimum wage to $15 an hour. Target said it will raise its minimum wage as high as $24 per hour this year, depending on the local market. The retailer hopes to buoy the growth it’s seen over the last two years by building more stores and e-commerce hubs to encourage new lines of business. Tech giants like Google, Meta and Twitter are grappling with how to wield their power as their platforms become battlefields for a parallel information war and a vital link amid Russia’s invasion of Ukraine. By blocking Russian state-run media and monitoring for cyberattacks, tech companies are becoming more actively involved than corporations have been in past military conflicts. Remote work is proving to be more persistent than anticipated, hitting the finances of U.S. cities banking on commuters getting back to the office. About 75% of the increase in telework over the course of the pandemic will likely stick, hitting municipalities that rely on revenue from tax on lunches to wages earned in city and parking fees. To proof th