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Arnold Kirimi
14 minutes ago


CRYPTO COMMUNITY REACTS TO RUSSIA'S WAR IN UKRAINE

Several prominent members of the crypto and blockchain community have chimed in
on the latest developments in Ukraine.

298 Total views
23 Total shares
Listen to article
3:31

News
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Russia's military intervention in Ukraine has elicited a strong reaction from
the cryptocurrency community. The news of the invasion initially sent Bitcoin
(BTC) and other cryptocurrencies tumbling.

The U.S. government has since responded to Russia's invasion with stringent
economic sanctions that have helped crypto prices rebound from their initial
price collapse. Amid all the doom and gloom, there are a few voices of hope in
the crypto community.

Ethereum co-founder Vitalik Buterin, a Russian citizen, voiced vocal opposition
to Russia's invasion and said the country should not have abandoned the prospect
of a peaceful resolution to the conflict. 

FTX CEO Sam Bankman-Fried decided to step up and offer monetary support to
Ukrainian traders. Every Ukrainian account holder registered on the FTX
cryptocurrency platform is eligible for $25 in free money, Bankman-Fried
announced on Twitter, writing: "we just gave $25 to each Ukrainian on FTX do
what you gotta do."



The crypto community responded to a Twitter message asking for donations to the
country's troops and called on the Ministry of Defense to set up a crypto
wallet; thus far, none has been created due to the country's rules.

As the Russia-Ukraine conflict continues, more individuals are turning to
Bitcoin to help finance the Ukrainian military. According to a report from
blockchain analysis firm Elliptic, people have given over $400,000 worth of BTC
to the non-governmental organization Come Back Alive. The NGO provides military
equipment, medical supplies, and food supplies to the local army. In addition, a
mysterious contributor recently donated 80 BTC, worth over $3 million at current
prices, to the charity organization supporting the Ukrainian army.



Related: Crypto community rallies with Ukraine as local NFT artists' works sell
out

Cyber Alliance, a community of Ukrainian cyber activists, has received
approximately $100,000 worth of Bitcoin, Ether (ETH), Litecoin (LTC), and a mix
of stablecoins over the previous year.

Pussy Riot, a Russian rock band known for its protests against the government,
has teamed up with Trippy Labs and PleasrDAO to create UkraineDAO. The
UkraineDAO will sell Ethereum NFTs to aid Ukrainians affected by the war. Ten
thousand NFTs of the Ukrainian flag will make up the NFT drop. The money raised
through sales of this coin will be donated to NGO Proliska and the Return Alive
Foundation.


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 * #Cryptocurrencies
 * #Russia
 * #Ukraine
 * #Decentralization
 * #Adoption


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