When Russia invaded Ukraine in 2022, it didn’t just unleash war — it froze the financial system. Foreign currency transactions were banned under martial law, and getting critical supplies to the front became nearly impossible.
“My teammates on the front lines needed real supplies, but the financial system was down,” said Sergii Vasylchuk, CEO of Everstake, speaking to TheStreet Roundtable.
That’s when crypto stepped in.
One of the biggest advantages of crypto is that you don’t have to wait the usual three to four business days traditional banks take to process transactions. Even on slower networks such as Bitcoin, the average time to process a transaction is 10 minutes.
When Russia attacked, Vasylchuk reached out to everyone he could, asking for help. “I tweeted for help, and within hours—not days—people united,” Vasylchuk recalled. “Foundations sent millions, joined by thousands of small transactions worldwide.”
“In days, we set up crypto wallets, converted donations to USDT or USDC, and got goods to the ground,” he said. “It bypassed banking restrictions, focusing aid where it was needed. Traditional systems couldn’t do that—it’s not nostalgia; it’s fact.”
Crypto critics have long argued the industry lacks real utility — but Vasylchuk disagrees.
“People call crypto a scam, but they don’t understand its power,” he said.
As CEO of Everstake, a company that builds blockchain infrastructure and tools, Vasylchuk believes the industry’s promise goes far beyond money. From vote verification to digital identity, he sees crypto as the backbone of future public infrastructure.
Still, he’s clear about what it needs to go mainstream: simplicity. “People won’t adopt crypto unless it’s easier than what already exists,” he said.
