Can Ukraine’s Support for Crypto Help the Industry Survive — and What…

Can Ukraine’s Support for Crypto Help the Industry Survive — and What…

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President of Ukraine Volodymyr Zelenskyy is the first war leader since Winston Churchill to address a joint session of the US Congress.

Dressed in his signature army green shirt, Zelenskyy’s visit to the US was inspirational and well timed. It was his first trip abroad since the country’s war with Russia began, and it came as Congress was set to decide on $45 billion in additional aid Biden administration recommends as part of a $1.7 trillion financing bill necessary to keep the US government running.

Zelenskyj said in his speech before Congress: “Against all odds and doomsday scenarios, Ukraine did not fall. Ukraine is alive and kicking. And that gives me a good reason to share our first, first joint victory with you: we have Russia fighting for the heads of the world.”

The crypto world could benefit from this kind of ferocity in the face of danger. Crypto has also been part of the story of supporting Ukraine.

The crises of winter lead to innovations

In his address to Congress, Zelenskyy addressed the people of the US, the world and Ukraine who are entering this winter Russian Attacks on Ukraine’s power grid and infrastructure will intensify.

But for a crypto industry going through its own metaphorical winter, his words may also apply – the industry faces significant roadblocks despite winning many hearts and minds. Crypto is also on an existential quest for legitimacy.

Ukraine and crypto have been forever intertwined throughout history, especially at the start of Putin’s “military special operations” as it became a key use case of supporting crypto’s value in times of crisis.

Cryptocurrency donations were important in order to be able to cross international borders despite closed transfers between national banks in the region. Donations in crypto helped get the money where it needs to go faster and more reliably, and the Ukrainian government recognized the need to accept crypto.

In March the Ukrainian Ministry of Digital…

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