Sam Bankman-Fried, CEO of crypto exchange FTX, has said on air at Camp Ethereal that “tens of millions of dollars” in cryptocurrencies in the form of assistance to Ukraine are a “great example” of supporting the population that has lost access to banking services.
As of March 12, the total amount of crypto donations to Ukrainian charitable foundations exceeded $100 million. The FXT head has said:
“If a tank has spawned near your bank, you might run into problems. It’s great that digital assets provide an international financial lifeline.”
According to him, this is an illustration of the expansion of financial opportunities.
Bankman-Fried has noted in response to a question about Russia’s use of cryptocurrencies to circumvent sanctions that this channel remains virtually unused.