Independent Russian News Site Meduza Raises Over $200,000 in Crypto

Pressure from the Kremlin and sanctions from the West person forced Russian quality outlet Meduza to progressively trust connected cryptocurrency donations to money its autarkic journalism. As the restrictions imposed implicit Moscow’s penetration of Ukraine person prevented its Russian readers from contributing successful fiat currency, the Riga-based website present accepts respective integer coins.

Meduza Pulls Journalists retired of Russia, Seeks Crypto Support

The warfare successful Ukraine has affected Russian-language quality tract Meduza successful much than 1 way, a study by Bloomberg reveals. Soon aft the Kremlin launched its “special subject operation,” President Vladimir Putin’s medication clamped down connected autarkic reporting connected the struggle and the media outlet has sought assistance to resettle its 25 journalists successful Latvia.

The tiny Baltic federation of astir 2 million, which has a ample Russian speaking minority, has go a hub for exiled Russian media. Western sanctions, however, bash not let Meduza’s 30,000 Russian readers who supported it earlier the struggle to nonstop funds done Stripe, aft the outgo processor suspended services successful the Russian Federation to comply with the penalties.

The warfare and the sanctions person forced Meduza to crook to its planetary assemblage and inquire for fiscal assistance successful U.S. dollars, euros, oregon cryptocurrency. It present accepts paper payments, slope wires, Paypal transfers, and aggregate coins including bitcoin (BTC), ether (ETH), the stablecoin tether (USDT), and the privacy-oriented monero (XMR). The study notes that the provided BTC and ETH wallets person already accumulated astir $230,000 worthy of cryptocurrency.

Commenting connected the situation, the quality portal’s editor-in-chief Ivan Kolpakov pointed retired that Meduza is presently raising lone astir fractional of what it needs to develop. While declining to uncover the full magnitude of donations, helium noted that the website is soliciting crypto and relying wholly connected wealth from foreigners for the archetypal clip and stated:

We couldn’t foretell that the sanctions of Western governments volition travel archetypal and destruct our crowdfunding.

Independent Russian media outlets person faced unprecedented unit from authorities successful Moscow and arsenic a effect immoderate person unopen down, portion others person been blocked by the Russian state. The Novaya Gazeta paper suspended work successful March aft receiving warnings astir its coverage, and the Ekho Moskvy vigor presumption had its FM frequence handed implicit to the state-run Sputnik.

Meduza, which was founded successful the Latvian superior aft Russia’s annexation of Crimea successful 2014, during different media crackdown, was labeled past twelvemonth a “foreign agent” by the Russian government. The designation, which targets Russian media receiving backing from abroad, had already wounded its advertizing gross earlier the caller sanctions efficaciously ended Russian donations.

Do you expect different autarkic Russian publications to crook to cryptocurrency donations to money their reporting? Tell america successful the comments conception below.

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