Cryptocurrencies Enter Ukraine Conflict
NDTV
Worried about rising tensions, locals were buying up stablecoins, the dollar-backed electronic currencies often criticised for their opacity
Having evacuated part of his team from Kyiv, Mike Chobanian, boss of cryptocurrency exchange Kuna, is watching the effects of Russia's invasion on his flourishing industry with a weary eye.
"Business is running, but we're in survival mode over here," the 37-year-old boss said during a video call from his current refuge after leaving the Ukraine capital.
Russia's military build-up led many Ukrainians to turn to cryptocurrencies, before the invasion seized up the sector.
But it is still facilitating global fundraising efforts, albeit through an opaque decentralised system that Russia could also exploit to circumvent sanctions.
