Hopeful Russian President Gains $3 Million via Bitcoin Donations to Compete with Vladimir Putin

In another piece of interesting news to come out from the world of crypto, Russian politician, Alexei Navalny — who many consider to be President Vladimir Putin's main opponent — has been able to raise more than 591 BTC (approx. $3 Million) in donations over the course of the last 36 months.

More On The Matter

For those of our readers who may not be aware, Navalny runs an independent investigation center called the FBK (Anti-Corruption Foundation) that regularly carries out exposes’ of high-ranking government officials such as Dmitry Medvedev, Yuri Chaika, etc.

Earlier this week, it was revealed that FBK’s crypto wallet had been the recipient of many large donations right before the firm’s latest investigative piece was released for public viewing this past Monday — thereby leading many to believe that the story was a paid news hit.

However, when asked about the same, FBK’s chief of staff Leonid Volkov stated that there was no connection between the “donations and the investigations”. Not only that, he also added:

“ They have dragged non-existent facts together by their heads. You can say that each time Encke’s Comet approaches the Earth it coincides with a big war: 1914 (First World War), 1941 (World War II) and 2014 (War on Eastern Ukraine). But its rotation period is three years, and it approached the Earth many times when there were no big wars.”

Some Other Details Worth Noting

  • FBK’s wallet address that has been listed on the company’s donation page has witnessed more than 2,000 transactions since December 2016.
  • Statistical data shows that most of FBK’s incoming transactions were either fractional or comprised of full coins. However, the single largest tx to have occurred from the firm’s wallet is estimated to be worth 20 BTC.

Final Take

Navalny is not the only political dissident to have raised funds through BTC, for example, various other media outlets such as Zona.Media, Roskomsvoboda too have received substantial donations via BTC and ETH. It now remains to be seen what the future has in store for FBK and its contemporaries.

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