Brett Harrison Tweets About Crypto's Media Narratives
Initially, the news of the invasion sent Bitcoin (BTC) and other cryptocurrencies plummeting. Today, the President of FTX.US, Brett Harrison took to Twitter to share his opinions on the media’s portrayal of crypto.
As stated by Harrison, the media looks at the crypto space in two varied narratives. Firstly,
“Crypto has enabled the significant direct contribution to Ukraine’s resistance efforts.”
The global crypto community has extended its support to Ukraine, resulting in raising more than $15 million in cryptocurrencies. Alongside, DAOs (decentralized autonomous organizations) have been formed in support of Ukraine.
Additionally, NFTs have also been sold to raise money for the people and the military of Ukraine. Ukraine's official Twitter account has now begun accepting Bitcoin, Ethereum, and Tether.
The second narrative, according to the tweet by Harrison claimed,
"Crypto has the potential to be used by Russia to evade sanctions."
Harrison claims that the second account of media is completely-based on speculations. The FTX US President states that they have complied with 'official sanctions' and used 'sophisticated tools' on fiat and crypto transactions to uphold sanctions.
However, Russia remains unscathed by sanctions enforced by the USA due to the rising fame that cryptocurrency has garnered. The usage of cryptocurrency has attracted foreign investments and brought domestic trading out in the open. Russia has also submitted a draft to regulate cryptocurrency.