With the start of the war between Russia and Ukraine, cryptocurrencies have taken a few roles, being sent as donations to aid the attacked nation but also in speculations that Russian oligarchs used such assets to bypass sanctions. However, community insiders continue to refute these allegations, and the latest to do so was FTX’s founder...Read More
Russia’s central bank granted the country’s largest lender Sberbank a license to issue and exchange digital assets. The latest move opens new avenues for the nation’s economy hammered by western sanctions. The Approval According to the official statement, local companies will be able to issue their own digital assets to lure market investments, purchase digital...Read More
Dominic Williams, the founder of Dfinity Foundation, proposed a way that blockchain and smart contracts can potentially help by getting millions of Russians to watch an entire informational video(s) about the ongoing war. The exec stated that the proposal is made in a personal capacity rather than as an employee of the decentralized blockchain project....Read More
Earlier this week, the President of the Chechen Republic – Ramzan Kadyrov – advised Elon Musk not to measure his strength against Vladimir Putin. Kadyrov went further, ironically calling Tesla’s CEO – Elona (the female version of his name). As it goes with the nature of the crypto community, scammers created over 30 tokens containing...Read More
Examining crypto’s usage in Ukraine, sanctions, and the Biden Executive Order Around the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Connor Dempsey There’s a gravitational shift taking place within our industry. Since Russia’s shocking invasion of Ukraine, crypto has been: used to crowdfund tens of millions for the Ukrainian...Read More
Ukraine’s president has officially signed the virtual asset bill to legalize cryptocurrencies for income, exchange, and business, as approved by parliament last month. This comes after weeks of financial support from the crypto community for help in fending off Russia’s invasion. According to a statement from the Ministry of Digital Transformation of Ukraine, the new...Read More
The Japanese authorities reportedly urged local cryptocurrency platforms to stop facilitating digital asset transactions subject to sanctions against Russia and Belarus. The Asian nation is among the superpowers that imposed financial penalties on the largest country by landmass. Previously, Japan froze the assets of nearly 50 Russian and Belarusian oligarchs alleged to be part of...Read More
Dapp discovery and analysis platform DappRadar has released a detailed report covering how the war between Russia and Ukraine has impacted the crypto industry. It argues that blockchain-based solutions could “play an important role” as the war continues, especially in light of global sanctions and asset freezes against Russia. The Macroeconomic Picture The report begins...Read More
Amid its ongoing invasion from the Russian Federation, the Ukrainian government wants to depict some war moments to show the world in the form of non-fungible tokens (NFTs). Thus, the nation continues to employ the asset class to help fund its defense. Russia-Ukraine War as NFTs The popularity boom of the NFT sector last year...Read More
Vitalik Buterin on Wednesday whetted his support for Ukraine against the Russian invasion. He said similar wars may be raging on in other parts of the world but that doesn’t mean people should stop caring about the Ukrainians or vice-versa. Buterin in Support of Ukraine In a tweet Wednesday morning, Ethereum’s co-founder said: “Ukrainians are far...Read More
Continuing his quest to spread political and economic sanctions against Russia as much as possible, the Ukrainian Vice Prime Minister, Mykhailo Fedorov, asked Tether to halt servicing Russians. Mykhailo Fedorov, the Vice Prime Minister of Ukraine, asked tether to halt servicing Russian users. Today, the entire democratic world has united against Russia to punish the...Read More
In light of global trade restrictions against Russia, Chainalysis has introduced two new tools for helping businesses ensure that they don’t interact with sanctioned entities through blockchain. Enforcing Sanctions in Crypto The first of these tools – according to a statement from the company – is an on-chain oracle. The smart contract will store data...Read More
Video subscription platform OnlyFans, reportedly donated 500 ETH to UkraineDAO – an organization that’s raising funds to support Ukraine during the ongoing war with Russia. CoinDesk reported this Friday that OnlyFans has donated 500 ETH, which is currently worth around $1.3 million, to one of the more active decentralized autonomous organizations in support of Ukraine....Read More
The leading cryptocurrency exchange – Kraken – will give $1,000 in bitcoin to each Ukrainian citizen who opened an account on the platform before March 10th. The initiative is designed to help those in need after Russia launched its “special military operation” in the country. Kraken’s Support to Ukrainians The list of companies, trading venues,...Read More
Binance has just donated to help the children of Ukraine in their country’s ongoing war against Russia, joining a growing wave of individuals within the crypto ecosystem who are giving money and taking a stand for the country’s struggle. Binance Charity, the non-profit charitable arm of Binance, announced a $2.5 million cryptocurrency donation to UNICEF....Read More
Visa and Mastercard joined the growing list of western financial companies that announced plans to withdraw from Russia. Looking for alternatives, the nation’s central bank said it has turned to China’s UnionPay system. President Vladimir Putin launched a “special military operation” against Ukraine less than two weeks ago, which still continues until this day with...Read More
Ukraine’s NFT auction has come to a very profitable end: On Wednesday, the country raised $6.75 million worth of ETH after a three-day bidding process for an image of its flag. The bidding process began on February 26th, when the flag NFT was listed. It ended on March 2nd, in a sale for 2,174 ETH....Read More
Sanctions from the West have been hitting Russia’s economy hard. But Japan’s financial regulator and the country’s industry body for cryptocurrencies is now looking to ensure that these sanctions are carried out effectively. It aims to do so by plugging loopholes and restricting the transfer of digital assets of individuals and entities on the nation’s...Read More
Coinbase has joined the list of cryptocurrency exchanges that do not plan to block Russia-based users from accessing their services. The company’s CEO believes that oligarchs won’t be able to use digital assets, while many ordinary Russians could buy crypto while their national currency tumbles. Coinbase Won’t Ban Russia-based Clients With Russia’s President launching a...Read More
The government of Ukraine announced it will airdrop cryptocurrencies donated to the nation’s official wallet. Companies, non-governmental organizations, and individuals have already contributed over $30 million worth of digital assets to the country amid its ongoing war with Russia. Ukraine Has a Date for its Crypto Airdrop A few days after the launch of Russia’s...Read More
The Russia-Ukraine crisis is far from cooling down anytime soon. In the thick of the ongoing chaos, the CEO and founder of the digital currency company Circle – Jeremy Allaire – asserted that crypto is a double-edged sword. In the Face of Crisis The cryptocurrency market is rallying in the face of a growing geopolitical...Read More
Jerome Powell – Chairman of the Federal Reserve – recently testified in front of the House Financial Services Committee on the state of the economy, and future monetary policy. Given the various sanctions placed on Russia during its conflict with Ukraine, he said the conflict “underscores” the need for crypto regulation that he’s advocated for...Read More
Mike Novogratz, CEO of digital assets company Galaxy Investment Partners, predicted that the Russia-Ukraine war will boost crypto adoption and lead to the marginalization of the dollar. “This is a big deal, in a lot of ways. This is starting the acceleration of de-dollarization of the world,” he commented. The billionaire American investment banker made...Read More
The first-ever memecoin Dogecoin and Solana joined the list of cryptocurrencies that people can donate to the Ukrainian government. Until now, the nation received contributions in Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), and Tether (USDT). Mykhailo Fedorov – Vice PM and Minister of Digital Transformation of Ukraine – revealed that people could now support the...Read More
The notorious hacker organization – Anonymous – has reportedly offered Russian troops payments in bitcoin to hand over their tanks. The group would pay more than $52,000 in BTC for each surrendered combat vehicle. BTC in Exchange for a Tank The Ukrainian side has been trying to stop the Russian invasion not only by weapons...Read More
Gavin Wood – founder of Polkadot – recently donated $5 Million worth of DOT to support Ukraine’s defense against Russian military aggression. The founder promised to provide the funds so long as Ukraine provided a DOT address publicly, which it now has. Ukraine Open To Crypto Following Russia’s invasion of the country, Ukraine took to...Read More
Bitcoin trading volumes against the Russian ruble reportedly soared to the highest level in almost a year. At the same time, those employing Ukraine’s hryvnia reached October 2021 heights. The Result of the Embargoes? NATO and the EU are still standing away from a direct military conflict and vowed not to send troops to Ukraine....Read More
The world’s leading digital asset exchange – Binance – does not intend to freeze the accounts of Russian-based individuals, a spokesman for the platform revealed. He further argued that “crypto is meant to provide greater financial freedom,” and such a move could oppose the concept of the industry. In-Line With Kraken Russia’s “special military operation”...Read More
The CEO of Kraken, Jesse Powell, has responded to Mykhalio Fedorov – the Vice Prime Minister of Ukraine, who asked cryptocurrency exchanges to downright ban Russian users from their platforms. As CryptoPotato reported yesterday, the Vice PM of Ukraine asked cryptocurrency exchanges to halt servicing Russian customers. The CEO of Kraken – one of the most popular...Read More
Crypto has emerged as the method of choice for fundraising and donations as it offers a number of advantages over banks and traditional methods of money transfer which are slow, expensive, and often restricted and monitored. The Ukrainian government has called upon the crypto community to pledge support in a series of appeals on social...Read More
