As per the information from the regional media outlet of Russia, a man has been accused of reportedly transferring a sum of money to the Ukrainian army. It is worth noting this is the first such case that has been reported in the region supporting the opposition army.
The FSB Directorate for the Republic of Sakha said in a press statement “A criminal case under Article 275 of the Criminal Code of the Russian Federation has been opened and investigated against a resident born in 1988.”
According to the court filing the man is charged with “ high treason in the form of providing financial assistance to a foreign state, international or foreign organization.”
The tension between Russia and Ukraine has been troubling the global demand of natural fuel including gases. It is worth noting that a sudden spike in the global oil market has been seen with many nations now struggling to buy fuel at lower cost.
Additional information also notes the held individual has transferred a huge sum in cryptocurrencies to the army of Ukraine during the peak time of war.
Several published reports in 2022 and 2023 note that Ukraine has allegedly gathered billions in cryptocurrencies from nations and individuals to support the disastrous war situations.
Ukraine and Russia tension to further trouble crypto adoption
Russia is globally known for its richness in natural resources, and on the other hand, it is known for crude oil at lower prices. It is crucial to note nations such as India and Sri Lanka are one of the major buyers of crude oil from the nation.
The available data set notes that Russia is among the nations with a significant number of crypto users and a major portion of adoption is led by the younger generation. Not only in crypto adoption but also in digital asset mining the nation’s territory has seen a staggering growth reaching new heights.
Experts cite the cheaper electricity and favorable regulatory environment behind the growing market of cryptocurrency mining in Russia. The digital asset mining sector has mirrored major traction worldwide due to the surged income from mining crypto.
Following the fourth Bitcoin halving, dozens of crypto miners have reported a growing revenue, with the price at the sky.
Crypto market price update
Until publishing the crypto market capitalization was at $3.34 trillion with a growth of 2.59 percent in the past seven days, yet the trading volume remained to grow at a slower pace and till writing was at $123.11 billion with a decline of 24 percent.
Bitcoin the market pioneer has been trading at $96,523 with a weekly growth of 1.23 percent, the press time prices of BTC are above 100 and 200 days exponential moving average and below 20 days ema.
The steadiness in BTC might have turned into a bullish sentiment if the oath ceremony of Donald Trump had leaders and moguls from the crypto market. Yet the wider crypto market is expecting dozens of changes in rules and regulations after Trump assumes the office post-oath ceremony on January 20.
