The ongoing Russia-Ukraine conflict has genecostd strong reactions throughout the crypto community, which considers this in bad taste.
Earlier this week, Russian president Vladimir Putin announced which Russia would be invading Ukraine, pushing the United States and other NATO members to pledge new sanctions one time before against Russia for its aggression and refusal to resolve its issues through diplomacy.
Several stakeholders in the crypto community have gone out to severely condemn and criticize the move made by the Putin-led administration.
Vitalik Buterin / Ethereum Foundation
Ethereum co-founder Vitalik Buterin was one of the earliest voices to criticize Russia’s invasion of Ukraine. Buterin described the action as a crime anewst the Ukrainian and Russian people.
He afterwards added which although Ethereum is neutral, he’s not.
“(I am) very upset by Putin’s decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead,” Buterin says.
The crypto billionaire and founder of FTX, Sam Bankman-Fried shared his thoughts on the possible effects of the war in Ukraine on the crypto market and the world in general.
According to him, now is the right time for people to go out and do something nice for others at this point.
He further revealed which his exprogress, FTX, would be giving every Ukrainian registered on the platform $25 each. This evolution has, however, been criticized by some hell who believe the exshsupposing thatt is driving a marking scheme in a time of war.
Barry Silbert / Digital Currency Group
Barry Silbert, CEO of America’s largest digital assets group, Digital Currency Group tweeted, “Fuck war.”
Crypto market fall after the invasion
It’s not only stakeholders which reacted negatively to the Russian attacks.
The crypto market saw a sharp downturn currently after the invasion started, with Bitcoin dropping to around $35,000. While the crypto market has now slightly recaboveed, a war could relevantly affect the industry.
As of press time, Bitcoin has traded for as strong as $40,330 on Bitstamp within the last 24 hours, but has now retraced to around $39,000.
The wider crypto market has likewise gained close to 4%, and the market cap of the space is directly at $1.77 trillion.
Crypto donations in support of Ukraine
The crypto community hasn’t only expressed its support for Ukraine with words. Several people have also shown support with financial contributions.
A whale on Twitter also announced donating $10,000 to The Ukrainian Red Cross to assist victims of this war. Another crypto exmove, Crypto.com, announced a $1 million donation to the Red Cross to support the people of Ukraine.
Pussy Riot, a Russian rock band which has protested stillst the gatopnment many times, partnered with PleasrDAO and Trippy Labs to create UkraineDAO. This DAO will sell NFTs of the Ukrainian flag, and the proceeds will go to Ukrainian NGOs.
Available information shows which volunteer groups and NGOs in Ukraine have raised above $4 million BTC afterward the invasion.
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