Cryptocurrency funding War
Written by Toya T on March 6, 2022
Cryptocurrency and the war in Ukraine is the first major conflict of the crypto era. Ukraine using crypto and Russia abusing crypto to avoid sanctions. However, Ukraine itself is a cryptocurrency capital.
Ukraines crypto wallet is looking nice with over 42 million in donations from all over the world. The crypto donations are from individuals, not governments that shows the level of popular support for Ukraine. Ukraine has the highest uptake of crypto in Europe.
As The United States try to defund Russia’s attack on Ukraine through goods and services. Visa and master card suspends their services. Many Major companies such as Apple and Samsung, have stopped selling goods and services in the country, while others like PayPal have stopped accepting new customers, and fintechs (Wise and Remitly) are cutting off transfers to and from Russia also.
With cryptocurrency on the rise, the future for paper money and commodities looks to becoming obsolete as trade. The crypto is proving it’s importance and relevance in these times. War has shown it can be used for more than getting rich quick. No matter what a given expert thinks or says, no one really knows the future for cryptocurrency.