Bitcoin News

Russia donates $120,000 worth Bitcoin for Leader Alexei Navalny’s release

Russia’s citizens are employing Bitcoin to support detained political opposition leader Alexei Navalny who was lately arrested at Moscow Airport on Jan. 17 under the form of a 2014 conviction. The Russian police in Moscow detained Navalny at the Moscow airport as he returned from Berlin. Officials stated that a 2014 sentence prompted his arrest last Sunday. Navalny asked for a nation-wide protest, and citizens complied, with thousands of protestors arriving in the nation’s capital.

Navalny’s political party, “Foundation for Combating Corruption,” is a non-profit organization that does not list the party’s Bitcoin address for legal reasons. Nonetheless, the group’s headquarter website, linked to the homepage, allows donations through wire transfer, PayPal, and Bitcoin. The party’s address has taken various grants totaling 3.5 BTC ($120,000) as his arrest. It holds a total of 657.1 BTC ($21.3 million) after the party first commenced receiving Bitcoin donations. Moreover, the donations proceeds to appear in the address.

Russian Officials arrest of 3000 Protestors in Moscow

Bitcoin has been an active proponent of public rallies and furtive operations worldwide. From supporting Hong Kong protesters last year to financing the U.S. Capitol riots more lately, it has witnessed all. Vladimir Putin has declared the protests are unlawful and dangerous. Reportedly, the officials arrested more than 3000 protestors in Moscow. Alexei Navalny is a lawyer set activist who started scrutinizing Russian President Vladimir Putin in the 2000s. He declared his presidential nomination in 2016.

The political activist has suffered a sharp resentment from the government, particularly for his reports against Putin. Navalny has consumed time in jail on record of reportedly incorrect charges and has also been poisoned most recently in August, which propelled him into coma. The Russian opposition leader has gained support from Joe Biden’s administration, demanding his release. The Russian Ministry of Labor banned state officials from storing any cryptocurrency. The new rule not only limits federal and local employees from obtaining new cryptocurrency—it requires the sale of old acquisitions as well.

Follow BitcoinWorld for the latest updates.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.