Russian-Ukrainian conflict: Cryptocurrencies an indispensable tool in wartime?

Today we meet again for our second article dedicated to the situation in Ukraine and the impacts that this military offensive has on the cryptocurrency world.

As you know, Ukraine is invaded by the Russian army since February 24, 2022. A complicated situation for the Ukrainian people, as much as for the Russian people who are restricted many services within the country, including financial services.

Thus, the largest payment players have recently turned their backs on Russia, PayPal, Visa, Mastercard and the SWIFT system are no longer functional in Russia. Cryptocurrencies, escaping any regulation, are making the eyes soft to the Russian people as well as to the Ukrainian people in this important crisis situation.

UKRAINEDAO rewards donors with a POAP:

After cancelling the Airdrop initially announced on the official account of Ukraine, UkraineDAO another twitter account decides to reward the donors via a POAP.

In a previous article, I explained what POAPs were and their usefulness in this world that is becoming more and more decentralized.

So on March 7, 2022, the UkraineDAO account announced that each person who contributed to the Ukraine's request for financial aid will be given a POAP (per address used). This POAP has for now no other use than to certify that you have or have not made a donation to the Ukrainian people.

Below is the tweet from the @Ukraine_DAO account mentioning the award:

A NFT of the Ukrainian flag sold for nearly 6 million dollars

Nadya Tolokonnikova, a member of the feminist collective Pussy Riot and fervent opponent of Vladimir Putin, has launched an initiative to help the Ukrainian people has auctioned an NFT representing a Ukrainian flag.

Ukraine having announced on February 26 on its official Twitter account the possibility of making donations in cryptocurrencies.

This initiative totally joins the recent events. The Ukrainian flag NFT was auctioned off, and sold for almost six million dollars. Namely, the entire amount will be donated to the Ukrainian people to help them.

Coinbase blocks 25,000 Russian accounts

In other news, the world-famous cryptocurrency exchange platform Coinbase, in order to comply with the recent provisions taken by NATO towards Russia, has chosen to block 25,000 accounts of Russian nationals. Thus, completely blocking access to assets deposited on the platform.

According to the American company, the holders of these accounts would have used cryptocurrencies for "illegal activities". More specifically, they would have used these crypto-assets to circumvent the heavy economic sanctions that NATO and the EU are imposing on Russia at the moment.

"In recent weeks, governments around the world have imposed a series of sanctions on individuals and territories in response to Russia's invasion of Ukraine. Sanctions play a critical role in promoting national security and deterring illegal aggression, and Coinbase fully supports these efforts by government authorities."
Paul Grewal, General Counsel of Coinbase.

Kraken distributes $10 million to Ukrainians

Kraken has joined the list of donors coming to the aid of Ukraine, as the crypto-currency exchange platform has just announced via a statement on its blog that it will distribute more than $10 million to its Ukrainian customers.

Second announcement, the entire transaction fees paid by Russian users in the first half of 2022 will also be redistributed.

No need to try to pass yourself off as Ukrainian, those affected by the airdrop will have to meet certain criteria, including having created an account in Ukraine before March 9, 2022 and having a Kraken account of the "intermediate" or "pro" type.

If you also want to make a donation in cryptocurrencies you will find below the BITCOIN address as well as the ETHEREUM address on which to send your donations.

BITCOIN:  357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

ETHEREUM / USDT (ERC20) : 0x165CD37b4C644C2921454429E7F9358d18A45e14

Happy Trading,

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About MonsieurK

Is there a POAP for everything ?