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“We apologize to our Russian miners; many of you do not support the war. However, it is you who are supporting your nation,” the mining pool said.
The Russian invasion of Ukraine is proving to have more consequences than can be imagined as FlexPool, one of the largest Ethereum mining pools, has cut its services to its customers in Russia. While it is quite unusual for a business to get involved in politics, FlexPool comes off as the very first cryptocurrency-based outfit to take a side by showing solidarity with Ukraine.
“We generally do not get involved in politics despite our personal views as a company,” a Flexpool spokesperson said in a message on Thursday evening on its official Telegram channel. “However, this is greater than politics, greater than anyone. This is a war that may end the world. It certainly is ending the lives of many innocent people in Eastern Europe.”
The decision to cut Russian users off its platform did not come as an easy one as representatives of the company posted in a Reddit forum. The affected users will be paid their balances and the company said it is open to welcoming its Russian users back into the fold when the crisis has been amicably resolved.
“We apologize to our Russian miners; many of you do not support the war. However, it is you who are supporting your nation. Without the people, Russia cannot operate. It is only through reducing the economic power of its people that we have a chance of affecting this war. We thank you for your loyalty, and I hope you understand that we do not make this decision lightly. Should this situation be resolved peacefully, we will happily welcome back all Russian miners and use our personal funds to make it up to you,” the mining pool said.
FlexPool Services Cut, Calls on Other Companies to Join Its Approach
As FlexPool cut its services to Russians as a way to force the government to rethink its approach to handling the diplomatic ties with Ukraine, the company has called on other firms to join its approach and to put humanity above profit.
“We call on other companies and people around the world to join us and make a difference together. This isn’t about politics; this is about preventing the end of the world and saving lives. Companies and people need to put the planet over profits in the modern era,” the statement reads.
Governments around the world are already issuing sanctions on Russia, with the United States, UK, and the European Union determined to cut the country off from international trades as the country’s financial institution cannot process transactions involving the USD, GBP, and Euro amongst others.
The sanctions are still rolling in, and while the Russian government may think they have things figured out as it stands, the economic impacts on citizens over a long time may be too grave to comprehend.