Could the Secret to Russian News Site, Meduza’s Success Be Crypto?

Cryptocurrency donations fund the operation of the independent Russian news site “Meduza.” This was a result of the pressure from the Kremlin and sanctions from the West. With the restrictions imposed as a result of the invasion of Ukraine, the Riga-based website now accepts a variety of digital coins from its Russian readers. Journalists Pulled out of Russia As Meduza Seeks Crypto Support According to Bloomberg, the Ukrainian conflict has had multiple effects on the Russian news website, Meduza. First, President Vladimir Putin’s government prevented journalists from reporting the conflict when the Kremlin launched its special military operation. This compelled the news organization to seek assistance transporting 25 journalists to Latvia. Because of Western sanctions, the 30,000 Russian readers who assisted Meduza before the conflict cannot send money through Stripe because the payment processor has ceased operations in the Russian Federation. The sanctions acted in compliance. What Could Be The Secret? Because of the war and the sanctions, Meduza requested funds from its international readers in US dollars, euros, or cryptocurrencies. As a result, it now accepts credit cards, bank wires, PayPal, and a variety of cryptocurrencies, including bitcoin (BTC), ether (ETH), tether (USDT), and Monero a privacy-protecting cryptocurrency (XMR). According to the report, the BTC and ETH wallets have accumulated approximately $230,000 in...