Blockchain Power: How the American Crypto President and Ukrainian Crypto Kings Are Increasingly Immersed in Digital Finance

A few years ago, cryptocurrency was perceived as a toy for geeks and dreamers who saw in Bitcoin a chance to get rich overnight. But times have changed. Today, digital currencies have become a serious tool that goes far beyond financial markets. Cryptocurrency not only affects the economy, it even gradually begins to dictate the rules of big politics.

Politicians around the world are diving into the crypto world en masse. Some see it as a way to invest and keep funds outside of state control, others see it as a new way to finance campaigns or even hide their profits and evade sanctions. Cryptocurrencies open the door to financial anonymity and global transactions without intermediaries, creating an ideal environment for shady deals. But at the same time, they are creating a new reality where the old rules of transparency and accountability no longer work. Digital money is already rewriting the political landscape. Today, we are witnessing the process of transition from the legalization of cryptocurrencies in some countries to high-profile money laundering scandals in blockchain networks.

The growing importance of cryptocurrency in the world

Each country has its own motivations for the adoption and use of cryptocurrencies: political instability, inflation, growing interest from institutional investors, and technological development. China is still restricting the activities of crypto companies. While EU countries are establishing new regulations for crypto-assets, El Salvador has already recognized Bitcoin as an official currency. India has unexpectedly become the leader in mass adoption of cryptocurrencies, while North America remains the leader in institutional investment.

For data According to The 2024 Geography of Crypto report, India, Nigeria and Indonesia have become the leaders in cryptocurrency adoption. While the USA took only the fourth step of this top. This situation is explained by the standard of living of the countries. So, for example, in India, cryptocurrencies are rapidly gaining popularity thanks to the initiative of ordinary people who are looking for an alternative to traditional banks. Despite the high 30% tax on cryptocurrency income, Indians are actively embracing Decentralized Finance (DeFi) to minimize costs and bypass strict restrictions.

For the countries of Eastern Europe and Africa, the crypt is not a fashion trend, but a real salvation. For example, for Nigeria, the main challenges remain political instability and inflation, due to which traditional currencies are less and less trusted. In such conditions, cryptocurrency ceases to be just an alternative. It is the only reliable way to preserve savings in a world where financial stability seems unattainable.

In the USA and Great Britain, the situation is completely different, because the main role in the adoption of cryptocurrencies is played by institutional investors. Giants such as BlackRock and Fidelity are actively entering the crypto market, making North America the leader in terms of large transactions. That is why the USA occupies a central place in the modern cryptocurrency ecosystem with a share of global investments of 22.5%. By by the results survey Gaining Ground: How Institutional Investors Plan to Approach Digital Assets in 2024, 94% of surveyed institutional investors see long-term value in blockchain and digital assets, and 79% of respondents consider cryptocurrency a key tool for diversifying their investment portfolios.

In Ukraine, cryptocurrency adoption has grown significantly due to the devastating impact of a full-scale invasion. High inflation and the instability of the hryvnia force many Ukrainians to look for a financial alternative in cryptocurrency. The report shows a sharp surge in DeFi transactions, indicating a growing interest in decentralized finance as a means of protecting assets and transferring funds securely. For many, DeFi becomes not only a way to save money, but also an opportunity to find additional income and financial stability, which traditional banks cannot provide in the current conditions.

History of cryptocurrency without myths

Back in the early 2000s, the idea of ​​money that existed only in digital form sounded like fantasy. In a world where banks kept everything under control and transactions went through tons of checks, the idea of ​​a decentralized currency seemed like an unrealistic dream. But Satoshi Nakamoto appeared – a person who in 2008 published a document that turned everything upside down. It described a mechanism for creating a currency that does not need banks and governments, Bitcoin.

In 2009, Satoshi launched the first block in the Bitcoin network – the so-called Genesis Block. This was the moment of birth of the first cryptocurrency. No one took it seriously at the time. Bitcoin cost literally a penny, and most people did not understand why these “digital coins” were needed at all. But enthusiasts quickly realized that behind this was not just a new form of money, but a whole revolution in the world of finance. The first high-profile event was the legendary pizza-for-bitcoins story. In 2010, programmer Laszlo Haniec bought two pizzas for 10,000 BTC. It was a few dollars back then. Now these “pizzas” would cost more than 300 million dollars. This day even became a kind of holiday in the crypto community – Bitcoin Pizza Day.

Gradually, Bitcoin became more than just a digital experiment. The first exchanges appeared where you could exchange BTC for real money. People began to invest in cryptocurrency, although most traditional financiers considered it another financial pyramid scheme.

In 2011, the first competitor to Bitcoin appeared on the scene – Litecoin, and other altcoins began to appear after it. Cryptocurrencies began to be used not only for investments, but also for payments, in particular in the infamous black market, such as Silk Road – a platform where everything from illegal substances to weapons was sold for Bitcoin. This attracted the attention of governments and law enforcement. Cryptocurrency began to be associated with crime, and that’s when the stereotype of “money for criminals” appeared. However, every year it became clear that this phenomenon would not disappear.

2013 was a turning point: the price of Bitcoin exceeded $1,000. People began to buy cryptocurrency en masse, hoping to get rich quick. In 2015, Ethereum appeared. It was a real platform for creating smart contracts and decentralized applications, which significantly expanded the horizons of the cryptocurrency world and gave impetus to new technologies.

In 2017, the first real cryptocurrency boom took place. The price of Bitcoin jumped to almost $20,000. People who used to laugh at the crypt started pouring money into it. A bunch of new coins appeared, many of which were outright scams (ICO bubble).

The COVID-19 pandemic has become another catalyst for cryptocurrencies. As traditional markets faltered, investors looked for new ways to preserve their money. Bitcoin began to be called “digital gold”, and large companies like Tesla began to invest billions in the crypto. NFTs appeared – unique digital tokens that sold for crazy money, and the concept of decentralized finance (DeFi) changed the approach to banking.

Even the states did not stand aside. El Salvador became the first country to declare Bitcoin as an official currency. Other countries have begun to consider implementing CBDCs (sovereign digital currencies) in an attempt to control the new financial reality.

In 2025, even the political world finally broke into the crypto space. And this is not at all like a casual flirtation with new technologies. Now cryptocurrency has become more than just a tool for investment or financial speculation. In a world where money drives politics, cryptocurrency has become the new currency of influence. There are several reasons for this trend: the anonymity of transactions, the lack of strict control by governments, and the ability to quickly transfer funds across borders. For some it is a chance to legally invest in the future, for others it is a way to hide income or finance dubious projects.

The USA, Europe, Asian countries – politicians everywhere either already have crypto wallets or are actively advocating the legalization of digital currencies. For example, in the US, several senators openly support Bitcoin and even propose creating a legislative framework for the crypto industry.

Cryptocurrency is no longer just an investment. It is also a powerful political tool. Thanks to the blockchain, it is possible to ensure the transparency of electoral processes, but the same technologies can also be used for hidden financial transactions that are difficult to trace.

US Crypto President

The loudest player, of course, was Donald Trump, who always knew how to turn any trend into a show. He intends to start the process of implementing his pre-election promise – to turn the USA into the world’s “crypto capital”. Trump, who is called the crypto-president, like the famous Midas who turned stones into gold, decided to keep up with the meme culture and launched his own memecoins.

Donald Trump decided to capitalize on his popularity by launching his own memecoin, one of the most speculative types of cryptocurrency. A total of 1 billion coins were created, of which 800 million remained under the control of the Trump Organization CIC Digital, and 200 million entered the market on January 17 during the initial offering. At the same time, K33 Research analysts claim that 80% of the tokens will not be sold immediately, but will be gradually released over the next three years.

In addition, he supports the idea of ​​creating a public Bitcoin reserve, which was previously proposed by Senator Cynthia Lummis. Trump said that the US, which has about 200,000 BTC (confiscated from cybercriminals and removed from the black market), will not sell them, but will use them to stabilize the national debt.

However, the $TRUMP memcoin situation got even more hyped when it was revealed that control of most of the tokens remains with CIC Digital. The nominal value of their assets at their peak reached 51 billion dollars, although this amount was rather conditional – any attempt at a mass sale would cause a sharp drop in the price. Panic among investors began after Melania Trump unexpectedly launched her own memcoin. This forced traders to sell $TRUMP to invest in the new asset, causing its price to collapse, dropping from $70 to $45 within an hour.

Manipulations on the crypto market did not go unnoticed by analysts. It all looked as if the big players were artificially fueling interest in $TRUMP, then sold off the assets en masse, making millions of dollars in profits. A similar situation occurred with the BARRON token, named after Trump’s youngest son. Its value temporarily reached 460 million dollars, but then collapsed by 95%. According to Global Ledger, the organizers of such schemes were able to earn more than $857 million by withdrawing funds through major crypto exchanges.

Such manipulations are known as pump and dump – a technique by which an asset is artificially promoted, hype is created, and then big players sell it at the peak, leaving small investors at a loss. Jordan Belfort, known as the “Wolf of Wall Street”, used such schemes at one time. However, this is not the only project of the Trump family in the crypto industry – in September 2024, the day after the assassination attempt on Donald, they launched the cryptocurrency fund World Liberty Finance. A few hours before Trump’s inauguration, this fund made an investment in cryptocurrencies worth almost $113 million. By early 2025, his portfolio had grown to 345 million, with Ethereum (55%), USD Coin (15.6%) and Wrapped Bitcoin (13.3%) being the main assets.

Can such actions be called fraud? Experts believe not, because no one hides that this cryptocurrency has no intrinsic value, except for the Trump name. But it cannot be called an investment tool either.

Therefore, Trump’s cryptocurrency activity looks more like another financial experiment, in which the main asset is his own name. Time will tell whether he will be able to convert this popularity into real money and retain the trust of his fans.

Despite support from the leaders of the US crypto industry and Trump’s promise of favorable regulation of digital assets, his own memcoin has caused a mixed reaction in the US. This is not the first time Trump has entered the crypto world – back in 2022, he made millions selling NFTs, where he was portrayed as a superhero.

As you can see, there is now a cryptocurrency inspired by the image of Donald Trump himself with his characteristic grimaces, hairstyle, and, of course, loud promises. TRUMPcoin, MAGAcoin, and even CovfefeToken are all not just a joke, but a serious move that was actively used in the election campaign.

Interestingly, these coins quickly gained popularity not only among Trump fans, but also among crypto-enthusiasts who love everything absurd and provocative. Some see this as an opportunity to easily make extra money on hype, others see it as another proof that politics is turning into a farce. But the fact remains that such memcoins are already influencing political discourse. Trump uses them as a symbol of financial independence from traditional institutions, saying that he and his supporters can bypass the system, even in money. The irony is that just a few years ago, Trump called cryptocurrency a scam. But when political ratings began to waver, he quickly reconsidered his position. Now he’s positioning himself as a fighter for economic freedom, backing it up with his own digital assets.

This trend is picked up by other politicians around the world. Some of them create their own tokens to collect funds for campaigns, others use the blockchain to demonstrate the “transparency” of financial flows. But the more politicians get involved in the crypto world, the more questions arise: where is the line between innovation and manipulation? Observing the popularity of crypto currency in the political world, one begins to involuntarily think about a new form of political corruption, disguised under the so-called digital freedom.

Crypto kings in Ukraine

Cryptocurrency also plays an increasingly important role in Ukraine. The country, which is known for its technological openness and powerful IT sector, quickly picked up the trend. On the one hand, cryptocurrency has become a salvation for many Ukrainians during financial instability, especially against the background of war. A crypto fundraiser for the military has become one of the most striking examples of how digital money can work for good. Only in the first months of the full-scale invasion, millions of dollars were received in the cryptocurrency accounts of Ukrainian funds.

On the other hand, cryptocurrency has also opened the door to new corruption schemes. Ukrainian officials have begun to declare digital assets in their electronic declarations, and the amounts are sometimes shocking. However, the issue of control and transparency of such operations remains open. Of course, cryptocurrency promotes financial freedom. But it should not be forgotten that at the same time, it makes it possible to complicate the tracking of illegal financial flows.

In 2021, Ukraine took a big step towards the legalization of cryptocurrencies – the Verkhovna Rada adopted the law “On Virtual Assets”, which created a legal basis for the operation of crypto companies in the country. It was a signal to the world community that Ukraine is ready to become part of the global crypto market. However, real changes are happening more slowly than we would like. Bureaucracy, insufficient experience in regulation and old corrupt practices slow down the process. The bun cryptocurrency has been used more than once as a way to circumvent sanctions, finance political campaigns, or influence election processes. For example, Russian oligarchs used cryptocurrency to minimize the impact of international sanctions. In turn, Western politicians are actively looking for ways to control these flows to avoid abuse.

According to experts’ estimates, since 2021, the number of declarations containing information about cryptocurrency amounted to 4.8 thousand, which was approximately 1% of the total number of submitted documents. In 2022, this indicator increased to 8 thousand, and in 2023 – to about 10 thousand. At the same time, the share of such declarations fluctuated within 1–1.5% over three years.

Despite the need to declare cryptocurrency after amendments to the law on prevention of corruption, the regulation of this sphere in Ukraine still remains weak, but the fortunes of officials in cryptocurrency are growing and strengthening at an impressive pace.

So, the ranking of crypto kings published in Bitcoin Magazine in 2023 was headed by:

• former deputy of the Odesa City Council, Dmytro Palpatin, who owns more than 7,700 BTC, which is about $700 million;
• Deputy of Odesa District Council Ivan Boychenko – 5,750 BTC ($528 million);
• people’s deputy of the 8th convocation Dmytro Golubov — 43764376 BTC ($400 million).

Among the top 10 largest bitcoin owners among Ukrainian declarants is the representative of “Servant of the People” Oleg Bondarenko, whose cryptocurrency is valued at UAH 323 million or $7.7 million.

Anna Skorokhod, a representative of the “For the Future” parliamentary group, together with her husband owns more than $16 million in electronic money. People’s deputy Oleksandr Hayduvid of the presidential party declared $2.4 million in cryptocurrency. Oleksandr Kizlyar, deputy of the district council of Khmelnytskyi, is in third place in the Opendatabot rating, having together with his wife 100 bitcoins for two. But if you dig into their fortunes, the strange fact emerges that they were not even acquainted with their wives at all at that time. For now, the deputy shows photos of happily spent time in various expensive resorts of the world, while the war is raging in his homeland, and his colleagues say that he has not been seen in the corridors of the council for a long time. And then it became known that more than a year ago, Kizlyar filed an application to withdraw his powers and deprive him of his deputy mandate. And it is not surprising, because the money for a safe life has been accumulated, now you can relax.

But the most impressive are the fortunes of the crypto-king Mykola Udyanskyi, the honorary consul of Romania and a crypto-trader who has topped more than one rating of crypto-currency owners in Ukraine. In 2021, Forbes estimated the crypto businessman’s fortune at $180 million. According to the mass media, the Kharkiv businessman Udyansky together with his business partner Bohdan Prilepa launched the dubious projects Prof-it, Coinsbit, Qmall and several others. In the end, Prilepa fled abroad and is accused of a major fraud related to the embezzlement of more than a billion hryvnias, which were supposed to be used to support the Armed Forces. And Udyansky himself claims that he became a victim of his actions.

As we can see, where there is large crypto-money, there are also significant frauds and abuses. For example, the declaration of Ihor Bakay, a juror of the Kolomyia City District Court, has not yet passed the NAZK check. Because the agency discovered unreliable information for 8.9 million hryvnias, most of which were in cryptocurrency accounts.

Therefore, cryptocurrency is gradually turning from an alternative to traditional finance into a new political currency, and every year its influence on the global arena is growing. Politicians around the world have already understood that crypto is not only about money, it is about power, control and new opportunities for maneuvering in conditions of global instability. In different countries, leaders either actively integrate cryptocurrencies into their economies, or vice versa — try to keep them under control, fearing to lose traditional leverage. But it is impossible to stop this process. Blockchain and crypto are changing the rules of the game, erasing borders and rewriting the laws of financial transparency.

For Ukraine, these changes are of particular importance. On the one hand, cryptocurrency became a lifeline during the war, allowing to quickly collect funds to support the army and humanitarian needs. On the other hand, this is a new problem for a political system that already has problems with transparency and corruption. Crypto can become both an engine of economic breakthrough and another tool for shadow schemes.

In the end, it all boils down to one question: who will learn to manage this new reality? Those who harness the potential of cryptocurrencies for development will be able to set the tone for the future global order. And those who try to drive crypto within the framework of the old rules risk being left behind.

The fact remains that the world has changed. And now not only money, but also blockchain dictates what the politics of tomorrow will be. Ukraine has a choice, either to become a part of this crypto revolution, or to drown in its own shortcomings.