The volume of trade between the Russian rouble and the largest dollar-pegged crypto token surged during the attempted insurrection by the Wagner Group earlier this month, as Russians rushed to find an alternative to the country’s weakening currency.
The militia group’s leader Yevgeny Prigozhin cast doubt on Vladimir Putin’s grip on Russia by attempting the country’s first coup for three decades. The insurrection ultimately failed, and Wagner has since relocated to Belarus.
On June 24, the day Prigozhin’s militia made its move on Moscow daily trading volumes between the rouble and the Tether stablecoin surged, according to figures from data provider CCData.
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