Share this article
Ukraine Asks Tether to Halt All Transactions With Russians; Tether Demurs
The vice prime minister of the embattled country has made similar requests with a number of western companies as well as major crypto exchanges.
Updated May 11, 2023, 5:59 p.m. Published Mar 11, 2022, 10:35 p.m.
Appealing directly to both stablecoin issuert Tether and Chief Technology Officer Paolo Ardoino via Twitter, Ukraine Vice Prime Minister Mykhailo Fedorov urged the company on Friday to stop all dealings with Russians.
- While not responding directly to Fedorov, the company in a statement to CoinDesk said, "Tether conducts constant market monitoring to ensure that there are no irregular movements or measures that might be in contravention of international sanctions."
- The policy appears to be in line with that of crypto exchanges including Coinbase (COIN) and Kraken, both of which also declined requests to cut off all Russian accounts, but promised not to allow any skirting of sanctions imposed by the West.
- Since the Russian invasion in late February, Ukrainians have been paying a steep premium over the value of the U.S. dollar for Tether's USDT stablecoin, to which it is supposed to be pegged 1:1, on the local cryptocurrency exchange Kuna.
UPDATE (March 11 22:44): Adds the last paragraph.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
