The FTX CEO, Sam Bankman-Fried, is distressed with the general perception regarding cryptocurrency across the industry during the continuous battle waged by Russia over Ukraine. With the commencement of war between the duo countries, a few roles have been played by cryptos like they have been utilized in donations for the help of the attacked country however It has also been reported that Russian oligarchs have used them to evade the sanctions.

Disgruntled SBF

Nonetheless, the community onlookers keep on negating the expected accusations. The new amongst them count to be the founder of FTX, Sam Bankman-Fried. Approximately, a month has passed since the start of the war by Russia, particularly the military operation confronting the eastern neighbor thereof. Although the authorities of these two countries have done some conversations frequently in the past to sort out the matter, the real consequences have not yet been witnessed.

Denying to have a thorough engagement with the issue, several nations throughout the world are asserting the latest sanctions’ implementation over the financial infrastructure of Russia, several of the oligarchs thereof, as well as the rest of the people associated with Putin (The president of Russia). During this scenario, crypto has taken a prominent position and the regulators have contemplated that royalty of Russia could utilize it to evade the sanctions.

As was expected to some extent, crypto onlookers did not consider the move to be a positive one. Ripple and Coinbase’s CEOs recently mentioned the causes behind their thinking that oligarchs are unable to utilize crypto assets in this way. The respective opinion was supported by the founder and CEO of FTX, Sam Bankman-Fried. He’s stated that he was just satisfied with the messaging done by the industry in this respect.

Russia and FTX

As per him, this counts to be an anti-regulatory stance so far the perception thereof is concerned. In his words, a big issue has been created by this perception. He suggested that Russia-based consumers should not be banned.

He moved on to say that the crypto exchanges such as Kraken, FTX, Coinbase, Binance, as well as the rest of the prominent crypto asset trading venues initially claimed to block the Russian-based institutions, and this is against the nature of crypto. A few among them were pushed to alter their point of view. He reaffirmed that the unsanctioned Russians will not be blocked by FTX from trading operations.