To support the protest movement organizers launched a fundraising campaign on the GoFundMe platform.
Organizers responded quickly byturning to the world of cryptocurrencyto evade seizures and continue funding their movement.
They raisednearly $1 millionin a matter of days.
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The conflict between Ukraine and Russia is not just a war of bombs and bullets.
It is also adigital warof which cryptocurrencyis just one of many components.
Two funds were initially set up: one for humanitarian and the other for military purposes.
Bank transfers can, indeed, take several days to arrive in the Ukrainian governments accounts.
The cryptocurrency was depositedwithin a few minutes.
Economic sanctions against Russia are not new.A number have been put in placesince the country annexed Crimea in 2014.
Since the start of the war,the conversion of Russian rubles into cryptocurrency has literally exploded.
Cryptocurrency leaves traces
But is it really an effective and definitive way to dodge sanctions?
Probably not, especially when it comes to the very large sums held by Russian oligarchs and large organizations.
Moreover, the usefulness of cryptocurrency for these types of transactions is temporary.
Striking this balance will not be easy.
