Amidst Ukraine Conflict, Blockchain Company Reports Surprising Growth

Key Points:

• Everstake, a provider of stakes, is continuing to advance despite the ongoing military crisis between Russia and Ukraine, according to CEO Sergey Vasylchuk.
• Vasylchuk claimed that even though he had taken steps to lessen the risk to Everstake and its staff before February 24, 2022, there were still months when many workers stationed in Ukraine were unable to work due to a variety of factors.
• Along with representatives of the Ukrainian government, Kuna, and the cryptocurrency exchange FTX, Everstake assisted in the March 2022 launch of Help for Ukraine, a platform for crypto donations.

Everstake, a provider of stakes, is continuing to advance despite the ongoing military crisis between Russia and Ukraine, according to CEO Sergey Vasylchuk.

In what has grown to be one of the worst conflicts in contemporary Europe since World War II, Russian armed forces invaded several areas of Ukraine exactly one year ago today, on February 24, 2022. Almost 8,000 citizens have lost their lives in the past year, numerous Ukrainian cities have been shelled, with at least one coming dangerously close to being completely destroyed, and the nation is still at risk of missile assaults and ground invasions.

Vasylchuk claimed that even though he had taken steps to lessen the risk to Everstake and its staff before February 24, 2022, there were still months when many workers stationed in Ukraine were unable to work due to a variety of factors. The CEO of Everstake stated that he felt accountable for the livelihood of almost 300 individuals, including about 100 employees and their families.

“This […] forced me — I’m the management — to move forward,” said Vasylchuk. “We act mostly instantly. […] We had a lot of help from partners, from other nations, from friends.”

Along with representatives of the Ukrainian government, Kuna, and the cryptocurrency exchange FTX, Everstake assisted in the March 2022 launch of Help for Ukraine, a platform for crypto donations. According to the website, more than $60 million in crypto and fiat donations were made, with the money going toward programs like buying medical supplies, military equipment, and humanitarian endeavors.

“Essentially, [these donations were] a small drop into the budget of what we currently need, but at least it was something,” said Vasylchuk. “Bottom line: Everstake became much stronger.”

Several Everstake employees, according to the CEO, have continued to work from emergency shelters at various periods over the past 12 months while dealing with noise from neighboring explosions, power outages, and adjusting to the new “normal”

“Right now, I can’t imagine what would scare us, what things could challenge us, to impress us — like ‘this is a disaster.’ We definitely could be ready for anything right now.”

With a workforce spread across several nations and under attack from Russian military forces, Everstake employees also had to deal with online rumors and conspiracies that its platform was being used for politically motivated money laundering. These rumors and theories may have been spread by Russia’s propaganda machine. One of the conspiracy theories circulated on social media claimed that Help for Ukraine’s finances were transferred to the US Democratic Party as a result of the website’s connection to FTX and the political contributions of the company’s former CEO Sam Bankman-Fried.

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