The Canadian authorities blocked the funds raised to support the Freedom Convoy initiative group. In response, the protesters announced the creation of their own Freedom Convoy token.
Canadian Prime Minister Justin Trudeau has initiated emergency measures to cut funding for Convoy Liberty truckers protesting quarantine measures. At the request of the government, an Ontario court blocked access to more than $10 million of funds raised on the GoFundMe platform, as well as more than $8.4 million on the GiveSendGo crowdfunding platform.
Shortly thereafter, Freedom Convoy member Pat King began promoting the Freedom Convoy Token (FCT) in the community as a possible solution to the problem. King invited like-minded people to download a cryptocurrency wallet and exchange fiat funds or cryptocurrency for an FCT token. As of February 15, about 3,000 such transfers have been registered.
The project’s website was taken offline Tuesday afternoon, raising concerns about possible fraud, according to local media. However, the token is still trading against BNB at $0.0003247, easing those concerns.
Recall that recently, US Congressman Warren Davidson, due to the concern of the American society about the suppression of civil liberties in Canada, submitted to Congress the “Keep Your Coins Act” bill, which is aimed at protecting owners of cryptoassets from restrictions on the storage and use of their funds.
