Blender
NewsRussia

Arrested Navalny’s Political Party Receives Donation In Bitcoin From Protesters

Many people now utilize cryptocurrency for the security and privacy it provides. A while ago, a heated protest started because of Navalny’s arrest, and some people claim that his party now receives Bitcoin donations from supporters to secure his release. Presently, the industry has grown to a degree where many people now understand and use digital assets for their daily activities.

A significant reason why the protestors might have chosen to use Bitcoin might be because they needed secrecy concerning the donations. Alexei Navalny, who leads the major opposition party in Russia, was arrested early last week based on a past allegation, and his arrest brought significant controversy in the region.

Russian authorities arrest Alexei Navalny

The country’s capital, Moscow, saw thousands of protesters roam the streets in agitation for the opposition party’s leader’s release. Sources claim that his party’s crypto wallet received over $100,000 worth of Bitcoin as donations to secure the leader’s freedom from the authorities.

📰  Grayscale Appoints New C-Suite Hires As It Makes Expansion Plans

The police arrested him last week Sunday when he returned from his trip to Germany. The police force clarified that a previous conviction warranted his arrest. Though not much has been said about the conviction, others claim that the present government plans to use the arrest to cripple the opposition party.

The outspoken leader immediately requested supporters to agitate for his release. His instructions led to thousands of supporters coming out to protest, while many went to Moscow to drive home their point. Looking at Navalny’s party, Foundation For Combating Corruption explained that it could not publicly release its address for some reasons.

However, for donations, interested people could donate via PayPal and other forms. The party seems to have won the citizen’s hearts as the amount of Bitcoin sent for his freedom is 3.5 BTC, and in total, the people donated over $20 billion since its BTC acceptance. Even with the leader’s arrest, the address still enjoys more donations.

📰  Morgan Stanley’s $150B Investment Arm Is Considering Adding BTC To Its Bets

How Bitcoin has fueled protests globally

In 2020, many countries saw protests due to various reasons. During demonstrations, the government usually uses its powers to prevent donations from protest accounts to stop the agitation. Fortunately, people’s exposure to Bitcoin has given them another means to receive payments without government control. The means helped the Chinese protesters in 2020 keep their funding from the government.

Reactions from the Russian president, Vladimir Putin, showed he was pleased with the protesters and arrested thousands of them in its capital. Since his criticism of the President, Navalny was in the political scene, leading to his announcement as a presidential candidate. The lawyer faced numerous problems, from different arrests and his later year’s poisoning.

Still, the activist stays strong and continues to fight for a government change in the developed country. Fortunately, he now has supporters in America’s new government, who requested his release. Interestingly, the country’s labor ministry demanded that officials do not have any crypto holdings, so those who have previously have to sell their cryptocurrencies.

📰  KuCoin Announces Full Recovery Of Lost Funds

Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close