An aide to Russian President Putin seeks to raise $100 million through an ICO of his company in a bid to help dethrone China as the country with the biggest Bitcoin mining industry. Putin has warmed up to blockchain technology, Ethereum in particular, and has extended support for its adoption through the help of local partners. Many believe that these developments indicate Russia’s predisposition to replace USD with Bitcoin as a reserve asset.
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Over the past few years, it has become abundantly clear that Russia is not a...