Ukraine-based crypto

Ukraine-based crypto: A bear market is forcing crypto companies to lay off employees, but Everstake intends to hire more, having prepared for the crash.

Ukraine-based crypto company Everstake intends to expand its workforce despite Russia’s invasion of the country and a bearish cryptocurrency market.

The company, a decentralized staking service provider, had prepared for the market crash well in advance, said Sergey Vasylchuk, founder and CEO of Everstake.

The ‘crypto winter is coming — but just how bad will it be?

An important part of doing business is to assess and address potential risks and he had expected the crash, Vasylchuk said.

“The war in Ukraine is a good example. Before it broke out, it was a black swan, i.e. a highly unlikely event with severe consequences. But war can turn your business and yourself into a heap of ash. That’s why I decided to prepare for it, and, unfortunately, I was right,” Vasylchuk said in a series of Twitter threads.

A crypto market crash was as inevitable as winter and crypto players should have expected it, he added.

“Those who were euphoric during the bull run and weren’t preparing paid a huge price for having their heads in the clouds,” he said.

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“We at @everstake pool were bracing ourselves in advance, though I must admit we underestimated the risks of Terra. We would have been much better off hadn’t it been for this whole story. Nonetheless, we have a special fund created to let us live through a bear market,” he said.

Vasylchuk said the company was not firing any employee, and on the contrary, was hiring.

“To be precise, we have hired 30 new employees since the onset of the war and have over 10 openings in marketing and development,” he said.

Everstake, along with crypto exchanges Kuna and FTX, had partnered with the Ukrainian government to launch a website where people could donate crypto to help the war-ravaged nation.

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Around $100 million have been raised in the form of cryptos and digital tokens since the beginning of the war.

Several prominent crypto players have laid off employees to weather the current market conditions. Earlier this week, crypto exchange Coinbase announced it was slashing 18% of its workforce, or around 1100 employees.

Cryptocurrency exchange Crypto.com announced it was laying off about 260 people, or 5% of its corporate workforce. Cryptocurrency lender BlockFi will reduce its staff by around 20%.

Earlier this month, crypto exchange Gemini cut 10% of its staff.

Cryptocurrency Ownership Data for Ukraine 2021 – TripleA

https://triple-a.io › crypto-ownership-ukraine

Ukrainian public officials reported owning 46,351 bitcoin, or US$2.67 billion at Wednesday’s price, according to the report by a local data analytics service 

Ukraine Government Turns to Crypto – Elliptic

https://www.elliptic.co › blog › live-updates-millions-in

The Ukrainian government – and an NGO providing support to the military – have raised $63.8 million, through more than 120,000 cryptoasset donations since the 

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Explained: What is Ukraine’s new law on cryptocurrencies?

https://indianexpress.com › Explained

17-Mar-2022 — According to CoinDesk, the new Ukrainian law on cryptocurrencies determines the legal status, classification, ownership and regulators of 

How Ukraine’s wide use of cryptocurrency is playing out 

https://www.theverge.com › decoder-ukraine-war-crypt

24-May-2022 — Michael says the most popular cryptocurrency in Ukraine is Tether, or USDT, It was based on the CDMA standard, the American standard, 

Ukraine Demonstrates That Cryptocurrency Is A Potent Tool 

https://www.forbes.com › sites › 2022/03/21 › ukraine-

21-Mar-2022 — However, tech-savvy Ukraine was quick to realize that crypto is the fastest and easiest way to handle the flood of international donations.

Explained: Ukraine Makes Crypto Legal; Changes Will Have

https://www.outlookindia.com › Business

18-Mar-2022 — Amid the war against Russia, Ukraine has legalised the crypto sector. Pavel Kravchenko, a blockchain expert based in Ukraine

Crypto Goes to War in Ukraine – WIRED

https://www.wired.com › Business › Plaintext

25-Mar-2022 — People assured him the massed armies were only a feint, but the CEO of Everstake, a Ukrainebased blockchain company, didn’t believe it.

Ukrainian crypto and blockchain firms survive despite ongoing 

https://cointelegraph.com › news › ukrainian-crypto-and-

20-Apr-2022 — Many Ukrainebased businesses have had to shutter or suspend operations following the outbreak of the conflict with Russia on Feb. 24, but some 

Ukraine Wants to Be the Crypto Capital of the World

https://www.nytimes.com › 2021/11/14 › business › crypt

14-Nov-2021 — In early September, Ukraine’s Parliament passed a law legalizing and regulating Bitcoin,. In early September, Ukraine’s Parliament passed 

Ukraine-based crypto exchange soldiers on despite conflict

https://capital.com › ukraine-based-crypto-exchange-sol

13-Jun-2022 — Despite the ongoing conflict, Ukraine crypto exchange developer Dexilon main network will start trading BTC and ETH in September. Read more

BTC/USD Bitcoin to US Dollar: 20802.95 -4.01

How cryptocurrency is being used to funnel money to Ukraine

https://www.computerworld.com Industry

16-Mar-2022 — BitcoinEthereum and other crypto currencies are being used to funnel money to Ukrainian causes as they are faster, cheaper and, 

Ukraine accepts dogecoin, other cryptocurrencies for CNBC

https://www.cnbc.com › 2022/03/02 › ukraine-dogecoi

02-Mar-2022 — On Feb. 26, Ukraine began accepting cryptocurrencies for donations and began with bitcoin, ether and a stablecoin called tether. Stablecoins are 

Ukraine Government Is Using Crypto Aid to Purchase Critical 

https://www.coindesk.com › policy › 2022/02/28 › ukr

28-Feb-2022 — The Ukrainian government is purchasing critical supplies, including gas, food and military equipment, using cryptocurrencies donated as the 

Crypto for Ukraine provides a flow of war-related assistance

https://apnews.com › article › russia-ukraine-cryptocurr

26-Mar-2022 — Since Feb. 26, when Ukrainian officials began tweeting calls for cryptocurrency donations, the Ukrainian government says it has taken in almost 

Thought Leadership: In Ukraine, crypto is demonstrating its 

https://www.business.rutgers.edu › business-insights › t

12-Apr-2022 — Other prominent crypto entrepreneurs have taken proactive efforts to aid Ukrainians. Sam Bankman-Fried, the CEO of FTX, a crypto exchange based 

How is Ukraine using crypto to fund the war? – The Economist

https://www.economist.com › 2022/04/05 › how-is-ukr

05-Apr-2022 — UkraineDAO, a crypto collective, auctioned a non-fungible token (NFT) of a Ukrainian flag for $6.5m-worth of Ethereum. It is the tenth most 

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Bitcoin to the rescue: Cryptocurrencies’ role in Ukraine

https://www.aljazeera.com › news › bitcoin-to-the-rescu

19-Mar-2022 — Ukraine has turned to cryptocurrencies to fund its military fight against Russia. Cryptocurrencies have taken on an unprecedented role in the 

War in the time of crypto – Vox

https://www.vox.com › recode › russia-ukraine-bitcoin-

15-Mar-2022 — From donations in bitcoin and crypto to Ukraine to concerns Russia might a website to centralize its cryptobased fundraising effort.

How the Ukraine conflict became a turning point for 

https://www.nbcnews.com › tech › crypto › ukraine-co

06-Mar-2022 — Many major cryptocurrency exchanges put forth defiant statements this Satoshi Labs is based in the Czech Republic, where Mazánkov said 

 

 

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