The President of Ukraine, Mykhailo Fedorov spoke again – this time urging Tether to stop all crypto services towards Russia.
His request was shared via a Twitter tweet on Saturday:
Today, the entire democratic world has united against Russia to punish the bloody invaders economically. I call on @tether_to @paoloardoino to stop any transactions with the Russians! for peace!
— Mykhailo Fedorov (@FedorovMykhailo) March 11, 2022
“Today, all the world's democrats have opposed Russia economically. I urge @tether_to @paoloardoino to stop dealings with Russian residents! For safety's sake!”
As a record, Paolo Ardoino is the Chief Technology Officer of Tether.
There is no denying that his request is a sign of support for his country which was attacked by Russia. In fact, the wave of Twitter users supported the haste.
But there are still a few who question Fedorov's will to block cryptocurrencies because it is impossible.
Following on from that, Tether had answered Fedorov's request on the same day:
"Tether is constantly monitoring the market to ensure there are no dubious movements that might breach barriers between nations."
This is not the first time Fedorov has rushed crypto platforms to block access to services for Russia.
Although the move was meant to be a sign of protest against Russia invading Ukraine, several major platforms: Kraken, Binance, and KuCoin were reluctant to do so.
Coinbase also sided with these platforms but managed to block more than 25,000 crypto wallets belonging to Russian-born owners who were involved in illicit activities.
Maybe many people think that when blocking is implemented, it means crypto assets are protected. This is actually a weakness of centralized platforms like Binance, KuCoin, and Coinbase having the power to block or not, not a weakness of cryptocurrencies.
If you look at platforms that are not controlled by anyone, you can look at Uniswap, SundaeSwap, 1inch, PancakeSwap, dYdX1, and ApolloX DEX because the use of crypto technology makes it control-free.
