At the beginning of this year, many countries worldwide imposed economic sanctions on Russia. This also included sending cryptocurrencies to Russian addresses. But despite that, some Russian social media accounts still appear to receive cryptocurrencies.
Russian crypto donations for the war
Chainalysis writes that in a research report. It’s not just early this year became difficult for wealthy Russians om foreign cryptoplatforms to use, but also forordinary’ russians with more than 10,000 euros in crypto or more. Foreign crypto platforms simply have to obey the sanctions, and unfortunately most of the tradable tokens will be on an exchange outside of Russia.
Chainalysis writes that it has found 54 Russian organizations that have received a total of more than $2.2 million in donations. The blockchain analyst does not say what kind of organizations they are, but the money would be used to provide Russian militias with provisions. This would mainly concern militias in Donbas and Luhansk, the two regions that Ukraine says belong to Ukraine and now claim to be independent Russian states.
In these regions, many separatists are fighting alongside the Russian army against that of Ukraine. The money will probably not go to the Russian army, but to people who choose to fight on the side of Russia in Eastern Ukraine.
There are five accounts that have received over $100,000 worth of crypto. One of those accounts is even worth about $1 million. There are 17 accounts with over $10,000 worth of tokens. Bitcoin (BTC) is the most popular token, but Ethereum (ETH) and USDT on TRON (TRX) are also popular.
Russian ruble is doing well
Meanwhile, the war in Ukraine is still raging, and Russia even seems to be holding up well. Russia’s President Vladimir Putin has banned payments in cryptocurrencies. This should help prevent the Russian ruble from depreciating too much.
The ruble is now worth even more than it was before the war started. Measured from the bottom, the ruble against the euro is even up more than 150%. Do you wonder where the war is headed? Inject your thoughts Discord!
