Russia’s War on Ukraine Affects the Country’s Crypto Boom!
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- Ukraine’s crypto industry was severely affected.
- Many crypto firms and exchanges were forced to be shut down, without employees.
- Firms branches operating elsewhere tend to run the show and keep Ukraine’s crypto industry alive.
The war is yet to come to an end, and the still on throttle battle, prohibits the self growth and improvisation of the nation’s crypto industry. The crypto industry of Ukraine was hit by Russia, forcing many crypto firms, organizations and exchanges to be forced to shut down.
Thousands of employees whose livelihood was dependent on such companies and firms are now left unemployed without anything to survive. Besides, the President of Ukraine, Volodymyr Zelensky has strictly ordered all men between 18 to 50 age group to be present in the Ukraine and not to leave it. The main notion behind this is to gather up man-power for Ukraine’s military support.
The Different Perspectives
Accordingly, the people of Ukraine, and the crypto industry though they are suffering on one side, on the other they tend to stand enthusiastically against the raging war. Most of the crypto firms and exchanges were closed down, and only a few managed to operate.
Among them, the Ukraine based Non Fungible Token (NFT) service organization Finch, continues to operate globally. Accordingly, the CEO of Finch, Arsenii Hurtavtsov, who is actually a citizen of Ukraine, fled the country to Azerbaijan, right after the outbreak, before the travel impositions were devised.
From there, Arsenii Hurtavtsov traveled to Dubai, joining together with his Chief Operating Officer, Alina Varakuta. Together, they started to run the show furthermore remotely and by acquiring resources.
In spite of all this, the CEO of Finch states that more than half of their employees are trapped in bomb shelters unable to even survive without basic necessities. Therefore, Finch must operate such that they will be able to provide the employees salary in spite of their terrible condition and situations.
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