cc.Link
  • Home
  • News
  • NFT
  • Videos/Tips
  • Mining
    • How to Mine Bitcoin
    • Top Mining Software
    • Mining Articles
  • Tools
    • Live Crypto
    • Free Wallet
  • Live
  • Marketplace
  • Contact us
No Result
View All Result
cc.Link
  • Home
  • News
  • NFT
  • Videos/Tips
  • Mining
    • How to Mine Bitcoin
    • Top Mining Software
    • Mining Articles
  • Tools
    • Live Crypto
    • Free Wallet
  • Live
  • Marketplace
  • Contact us
No Result
View All Result
cc.Link
No Result
View All Result
Home News

Ukraine’s KUNA Exchange Says Crypto Has Been Vital During Russia Invasion

ccLink by ccLink
March 31, 2022
in News
0
Ukraine’s KUNA Exchange Says Crypto Has Been Vital During Russia Invasion
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

KUNA, Ukraine’s biggest crypto exchange believes that cryptocurrency has proven vital during the Russia-Ukraine conflict, as its founder, Michael Chobanian continues to facilitate donations for the government.

Prior to Russia’s invasion, KUNA saw daily trading volumes of between $1 to $4 million, while Chobanian simultaneously led the Blockchain Association of Ukraine. While many Ukrainian men have joined the army to support the country’s resistance in the face of Russia’s invasion, Chobanian has seen his role as the father of his country’s crypto scene elevated to become the “crypto banker for the government.”

“I’m in charge of collecting, fundraising, and storing crypto, and also exchanging crypto to crypto and crypto to fiat, opening bank accounts for intermediaries or for the government, and then buying whatever is required by the Ministry of Defense,” he told Bloomberg Markets.

“We also find the suppliers who are willing to sell us humanitarian goods, or helmets, or bulletproof vests for crypto.”

According to Ukraine’s deputy minister for digital transformation Alex Bornyakov, crypto donations by mid-March had helped the army purchase 5,500 bulletproof vests, 500 helmets, night-vision goggles, and medicine.

Crypto preparation

Chobanian notes that in some sense, cryptocurrencies have helped Ukraine prepare for the conflict, which to many had seemed impending since Russia’s annexation of Crimea in 2014. In his years as one of Ukraine leading crypto advocates, Chobanian had made connections all across the world.

“I knew that a lot of big crypto billionaires from around the world would definitely help us because they knew us personally,” he said. “I know a lot of rich Ukrainian crypto guys who live abroad, so I definitely knew they would help. Yesterday we were competitors, now we are all one big family.” 

However, apart from crypto executives marshaling crypto resources to support the war effort, cryptocurrencies have helped Chobanian and KUNA prepare in a more immediate sense.

“In crypto you’re always prepared for the worst. You’re prepared for the hackers or for police raids, or something like that,” Chobanian said. “Health issues, stress, and internet access—for me personally—was the hardest. The rest was just business as usual.”

Crypto saves lives

Having always had faith in the technology, Chobanian now sees it as a saving grace in the country’s effort to repel the invasion and defend its citizens. Instead of taking three days through the traditional financial system, Bitcoin’s block creation time of 10 minutes is orders of magnitude more expedient.

“So if we can save a minute, it means that we can save at least someone’s life, so we are trying to speed up the process and crypto is helping us here,” he emphasized.

In addition to facilitating payments for the government, regular Ukrainians have also taken to using cryptocurrencies as a safer and more portable means of migrating their money. Chobanian relates that another reason crypto adoption has been so high in Ukraine is the history of instability of the late Soviet era, corruption, and a weak currency. Ukraine, he points out, was the No. 1 crypto country in the world according to the Chainalysis 2020 Geography of Cryptocurrency Report.

Chobanian believes that this war could serve as a turning point in the legitimization of cryptocurrencies, given the essential role they have come to play.

“Now there is no skepticism because they understand that we save lives every single minute with crypto,” he emphasized. “You can try to ignore it, but you cannot ignore when their families are actually fed with crypto, or when the soldiers are dressed in bulletproof vests and helmets with crypto.”

What do you think about this subject? Write to us and tell us!

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

View Source

Did you like this post? Consider donating to us.

[crypto-donation-box]

Related articles

Crypto Whales Believe These Altcoins Will Take the Crypto World by Storm – Find Out Why

Crypto Whales Believe These Altcoins Will Take the Crypto World by Storm – Find Out Why

February 2, 2023
Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players

Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players

February 2, 2023
Tags: bitcoinExchangeUkraine’s
Share76Tweet47

Related Posts

Crypto Whales Believe These Altcoins Will Take the Crypto World by Storm – Find Out Why

Crypto Whales Believe These Altcoins Will Take the Crypto World by Storm – Find Out Why

by ccLink
February 2, 2023
0

Trent Rhode / Midjourney AICathie Wood and her firm, Ark Invest, are making the news with their latest cryptocurrency forecast....

Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players

Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players

by ccLink
February 2, 2023
0

Okx, one of the largest cryptocurrency exchanges in the market, has announced the launch of its soccer-focused metaverse experience, called...

Winz Casino Review: Bitcoin & Cryptocurrency Casino

Winz Casino Review: Bitcoin & Cryptocurrency Casino

by ccLink
February 2, 2023
0

The Winz Casino is a new online crypto casino offering that was first opened in 2020. It is under the...

Indonesia to unveil national crypto exchange by June

Indonesia to unveil national crypto exchange by June

by ccLink
February 2, 2023
0

The crypto landscape in Indonesia could see a national crypto exchange before the end of June this year. Indonesia initially...

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

by ccLink
February 1, 2023
0

Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in...

Load More
  • Trending
  • Comments
  • Latest

Bed Bath & Beyond: A Retail Revolution in Home Essentials!

February 2, 2023
Crypto exchange Gate.io to provide Pyth Network with price data

Crypto exchange Gate.io to provide Pyth Network with price data

November 25, 2021
Celsius Network Raises $400M Led by Canada’s 2nd Largest Pension Fund to Reassure Regulators

Celsius Network Raises $400M Led by Canada’s 2nd Largest Pension Fund to Reassure Regulators

November 20, 2021
You Are The Carbon They Want To Reduce

You Are The Carbon They Want To Reduce

April 11, 2022
AMC CEO Proudly Declares That the Company Now Accepts Various Cryptocurrencies as Online Payment

AMC CEO Proudly Declares That the Company Now Accepts Various Cryptocurrencies as Online Payment

0
New york city’s Incoming Mayor Wants to Be Paid in Bitcoin (At Least Temporarily)

New york city’s Incoming Mayor Wants to Be Paid in Bitcoin (At Least Temporarily)

0
International Money Laundering Watchdog Says Uh, Yeah, Better Regulate Cryptocurrency

International Money Laundering Watchdog Says Uh, Yeah, Better Regulate Cryptocurrency

0
No, Putin Isn’t Embracing Cryptocurrency Just Yet

No, Putin Isn’t Embracing Cryptocurrency Just Yet

0
CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

February 3, 2023
Crypto Whales Believe These Altcoins Will Take the Crypto World by Storm – Find Out Why

Crypto Whales Believe These Altcoins Will Take the Crypto World by Storm – Find Out Why

February 2, 2023
Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players

Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players

February 2, 2023
FIO Protocol Launches NFT Domains Wrapped on Polygon

FIO Protocol Launches NFT Domains Wrapped on Polygon

February 2, 2023

Join our mailing list

Tags

ADA altcoin altcoin daily altcoins Binance bitcoin bitcoin analysis bitcoin crash bitcoin live bitcoin news bitcoin news today bitcoin prediction bitcoin price bitcoin price prediction bitcoin today Blockchain btc btc news btc price buy bitcoin Cardano Crypto crypto crash Cryptocurrency cryptocurrency news crypto market Crypto Monnaie cryptomonnaie Crypto News crypto news today DEFI Dogecoin ETH Ethereum Finance investing metaverse Money news nft Ripple Shiba inu Solana trading xrp

© 2022 CC.LINK

No Result
View All Result
  • Home
  • News
  • NFT
  • Videos/Tips
  • Mining
    • How to Mine Bitcoin
    • Top Mining Software
    • Mining Articles
  • Tools
    • Live Crypto
    • Free Wallet
  • Live
  • Marketplace
  • Contact us

© 2022 cc.Link.