Since March, Meduza has collected donations in the form of USD, Euros and cryptocurrencies like Bitcoin BTC USD and Ethereum ETHUSD, according to the news site.
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According to a report by CoinDesk, the news company has received around $250,000 in donations from 146,000 individual transactions. Around 93% of the total donations came in the form of 3.75Bitcoin $116,954 and 49.9Ethereum $117,767 How Did This Happen: Financial troubles for Meduza began in April 2021 after it was labeled as foreign agents by Russia's Justice Ministry. The company had to place a large font warning on each of its Russian-language articles, informing readers of its foreign agent status, which resulted in a loss of nearly all of its advertisers.
After the Russian invasion of Ukraine, the government decided to block its site in the country, and it lost 30,000 supporters, even though its foreign agent status did not prevent Russian readers from donating to the organization. Russian authorities have banned the site for disseminating information in violation of the law. The company says it doesn't get any money from Russia at all. Read Next: 'Happy Victory Over Nazism Day: Russia's Putin And Ukraine's Zelenskyy Address Citizens On Victory Day Amid Raging War