🇺🇦 Blockchain Teams in Ukraine Struggle and Galvanize as Russia Invades Their Country
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CRISIS Crypto has always been global, but the crisis created by Vladimir Putin’s assault on Ukraine this week has dramatized just how global it has truly become.
TEAMS Many distributed crypto teams have members in Ukraine, and many others with connections to the country have started providing support to people facing the conflict there. It’s difficult to get information right now about the teams with staff in Ukraine, and many of those that remain, of course, are not in a position to communicate actively with the media now.
UPDATE This is a developing story and The Defiant will continue to update it as the picture comes clearer. But we know that this is a situation that people in crypto have connected with.
ORCA “Today one of Orca’s core community members had to take a step back due to his position within the military,” Julia Rosenberg, a co-founder of Orca Protocol, a governance platform for crypto projects, tweeted Thursday. “As DAOs enable more global cooperation, they make the world smaller. We are no longer so far removed from the faces of foreign strife.”
SUPPORT Pussy Riot, the famed feminist punk protest group, helped form a DAO on Thursday to assist Ukrainians as the Russian military assaults and occupies their country.
CORE MEMBERS The newly formed UkraineDAO immediately attracted thousands of followers to its Twitter and Discord accounts. In addition to Pussy Riot, the group includes core members representing PleasrDAO, the DeFi collective from which FreeRossDAO spun out, and Trippy Labs, an NFT studio.
MINTING The group is currently organizing an NFT drop issuing tokens with all proceeds raised donated to organizations supporting Ukraine. The minting price will be set at 0.08241991 as a tribute to Ukraine’s Declaration of Independence on Aug. 24, 1991. NFT minting is expected to go live on Feb 26.
DONATE “Our goal is to raise funds to donate to Ukrainian civilian organizations who help those suffering from the war that Putin started in Ukraine,” Pussy Riot tweeted, “Pussy Rio tweeted. “We’ll be buying an NFT of the Ukrainian flag.”
Metaverse Real Estate
VALUE It’s a stark reality. The cryptocurrency market has lost 40% of its value since peaking in November, and even web3 supporters have accepted that a bear market has arrived with no end in sight.
ELEVATED And yet, there is one asset that has been quietly and steadily holding fast during this sell off — metaverse land. Yes, that’s right, real estate in the virtual world had tracked the larger market’s surge to all time highs last fall but rather than drop it’s remained elevated despite some tapering.
SALES In fact, weekly metaverse land sales broke 6,000 ETH for the first time starting on Nov. 14 and hasn’t dropped below that level since, according to WeMeta, a platform which tracks metaverse “worlds” like Decentraland. Land in the metaverse is typically represented by NFTs.
Guest writer Dave Weisberger argues thatCanada’s crackdown on financial and crypto accounts reinforces Bitcoin’s utility and purpose.
CENSORSHIP If you had Canada proving the need for a censorship-resistant, store-of-value on your 2022 bingo card, well, you are smarter than me, but, here we are…
PROTEST With the extraordinary invocation of the decades old Emergencies Act, Prime Minister Justin Trudeau acted to crush the self-styled Freedom Convoy of truckers who jammed the capital, Ottawa, several weeks ago to protest strict Covid vaccine policies.
DOXXING For the truckers and their supporters, this was an act of civil disobedience. And yet Trudeau’s government froze demonstrators’ bank accounts and encouraged doxxing of contributors to their cause.
BULLISH SIGNAL While Trudeau believed the step was necessary, he unwittingly proved how important Bitcoin can be to the cause of individual freedom worldwide. With Bitcoin, Ethereum and the rest of crypto suffering a profound selloff, the timing is important. The Canadian government’s action reinforces Bitcoin’s central anti-censorship thesis, and its utility. And that development is a decidedly bullish signal amid the noise of the last few months.
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Trading volume in Ukrainian crypto exchange Kuna has more than tripled by Friday since Russia invaded the Eastern European nation, according to CoinGecko data.
The Department of Justice said Thursday that Arthur Hayes and Benjamin Delo, co-founders of the crypto derivatives exchange BitMEX, have pleaded guilty to violating the US Bank Secrecy Act.
It’s hard to overstate how much fun we had at ETHDenver last week. We’re still coming down from our post-conference high — the inevitable fallout from a week of unabated excitement and dopamine depletion. Call it the ETHDenver detox.
Bitcoin donations to a pro-military Ukrainian group have surged in the past day.
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🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
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