Russian citizens sought refuge in tether amid the brief mutiny of the Wagner mercenary group that shook their country. The ruble-denominated trading volume of the U.S. dollar-pegged stablecoin spiked during the short-lived rebellion, market data revealed.
Russians Traded Millions of Dollars’ Worth of Tether in a Day of Unrest Triggered by Wagner
Many Russians have apparently tried to find safe haven in crypto when their nation was at the brink of a civil war a few days ago. On Saturday, as a revolt by the Wagner private army unfolded, trades between the Russian fiat and tether (USDT) surged to almost $15 million in value, or close to 1.3 billion rubles, according to blockchain data firm Ccdata.
The volume was up from $4 million on Friday, the Wall Street Journal noted in a report. On the same day, Wagner’s boss, Yevgeny Prigozhin, posted a series of video and audio messages announcing his mercenaries will lead a “march for justice” against Russia’s military leadership, the cu
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