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Crypto SWOT: Ukraine has already spent $15 million in crypto donations on military supplies

Commentaries & Views


  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Vangold, up 3,429%.

  • Ukraine has already spent $15 million of the donations it received in cryptocurrencies on military supplies, including bulletproof vests that were delivered Friday, Alex Bornyakov, deputy minister of Digital Transformation of Ukraine, told Bloomberg news. The Ukrainian government anticipates doubling the $50 million of crypto donated so far in the next two or three days, the article continues.

  • Bain Capital, one of the world's biggest startup-investment firms, is launching a $560 million fund focused exclusively on crypto-related efforts, reports Bloomberg. The fund is expected to invest in 30 companies ranging from crypto start-ups to decentralized autonomous organizations (DAO) in layer 1 blockchains and storage.


  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was Purfect Network, 99.92%.

  • Ukraine's vice prime minister publicly asked all major cryptocurrency exchanges to freeze accounts in a bid to further challenge Russians' resources and stop the war. Kraken CEO fired back, however, saying he believes crypto should enforce individualism, rather than nationalistic alliance to a country. He added that if they were going to voluntarily freeze financial accounts of residents unjustly attacking and provoking violence, step one would be to freeze all U.S. accounts, writes Fortune.  

  • Coinbase CEO Brian Armstrong said that the cryptocurrency exchange will block transactions from IP addresses that might belong to sanctioned individuals or entities. However, it will not pre-emptively ban all Russians from using Coinbase, he said on Twitter.


  • A decentralized autonomous organization (DAO) has been established with the aim to pool $4 billion and buy the NFL team the Denver Broncos, writes Crypto News. The crypto enthusiasts, dubbed "BuyTheBroncosDao," aims to collect the necessary funds to submit a bid for the franchise with Sean O'Brien, a former lawyer for Cisco leading the bid.

  • South Korea's cryptocurrency market grew to $45.9 billion in 2021 despite stringent regulations in the region, writes CoinTelegraph. South Korea is considered among the strictest crypto markets in terms of regulatory policy implementations and made regular headlines throughout 2021 for its new Travel Rule and KYC requirements.   

  • Bitcoin has been trading below its 200-day moving average for 70 consecutive days, one of the longest such streaks on record. And though the popular coin is still well below the long-term threshold, once it breaks above it, the performance one week to three months out is stronger than average.


  • As reported by Crypto News, the crypto community has once again been thrown into a debate about the need for more decentralization. This comes after both the NFT marketplace OpenSea and Ethereum wallet MetaMask recently blocked users based on their geographic location.

  • The People's Bank of China (PBOC) disclosed a continued crackdown on virtual currency transactions in a video conference late last week. Beijing carried out one of the most comprehensive crackdowns on crypto trading and mining last May, Bloomberg reports, forcing major crypto exchanges and mining companies out of the country.

  • A finance professor at the Wharton School of the University of Pennsylvania is urging the U.S. Federal Reserve to raise the interest rates and shield the dollar from Bitcoin, writes Professor Jeremy Siegal says that Bitcoin could "take over" the U.S. dollar; hence the Fed needing to step in and protect the fiat currency from devaluation.
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