An on-chain breakout of the Russian oil trade
Today, relevant media reported that when Russia used Bitcoin, Ethereum and USDT in trade with China and India, the first batch of oil trade settlements were completed.
Since Russia was subjected to comprehensive sanctions by the West in 2022, the traditional dollar settlement channel has been cut off, and the switch to cryptocurrencies has been a helpless move, but it has unexpectedly opened up a new path.
As "digital gold", Bitcoin is censorship-resistant, decentralized, and suitable for large-value settlements and long-term stores of value.
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