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Benzinga
Benzinga
Business
Shanthi Rexaline

Russia-Ukraine Crisis Is Demonstrating 'The Power Of Cryptos': Ark Invest Analyst

The Ukrainian crisis has roiled the market to no end, resulting in considerable volatility. Cryptocurrencies weren't spared either, but these digital currencies have asserted their utility during this tumultuous time.

Ukraine & Russia Take To Cryptos: The Russo-Ukrainian crisis has "demonstrated the power of cryptoassets" as a source of "economic independence," Ark Invest analyst Frank Downing said. In response to Ukraine's plea for crypto donations, the country has raised more than $54 million in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and other cryptos, the analyst noted.

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