How Crypto Got So Caught Up in the Russia-Ukraine Conflict

Laura Shin
3 min readMar 1, 2022

Crypto quickly became embroiled in the Russia/Ukraine conflict that broke out last week, a sign of how embroiled it has become in the wider global economy and geopolitics — and how its libertarian leanings inform its actions now.

After the official Ukraine Twitter account posted addresses for donations, the crypto community, via 24,000 addresses, sent over $22 million in donations to Ukraine, according to blockchain analytics provider Elliptic. FTX cofounder and CEO Sam Bankman-Fried donated a quarter million dollars in Tether…

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Laura Shin

I’m a crypto journalist, host of the Unchained pod, and author of The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze.