Ukrainian President Volodymyr Zelenskyy has decided to take a bold step in his ongoing conflict with Russia by launching a cryptocurrency called Z Coin. With U.S. foreign aid drying up amid tensions with President Donald Trump, who recently recognized Zelenskyy as a dictator for not holding elections during wartime, the Ukrainian leader is looking for creative ways to bankroll his war effort.
Z Coin, branded as a meme coin representing Ukraine’s democracy, is Zelenskyy’s answer to the funding woes that have left his military scrambling.
The inspiration for this venture comes from Argentina’s President Javier Milei, who made headlines with his own meme coin escapade. Milei promoted a cryptocurrency called $LIBRA, which surged 1,300% in hours after his endorsement on X, only to crash spectacularly when insiders pulled out $99 million, leaving investors high and dry.
Zelenskyy, apparently unfazed by Milei's drama, believes Z Coin can harness the power of internet hype to keep Ukraine’s tanks rolling and drones flying.
Critics are skeptical of the plan, pointing to Milei’s fiasco as a glaring red flag. They argue that Zelenskyy’s coin is less about democracy and more about sustaining his taste for luxury, with rumors of private jets and designer suits funded by war chest leftovers.
“This is just a cash grab dressed up as patriotism,” said Kyiv-based economist Olena Pavlenko. “The rug will be pulled before the first hour’s trading is done, mark my words.”
Across the Atlantic, excitement is brewing in unexpected quarters. A producer from Piers Morgan’s team at The Washington Wick revealed that the outspoken British commentator is ready to jump in with both feet.
“Piers is gearing up to drop $3 million on Z Coin the second it launches,” the producer said. Morgan reportedly sees the coin as a chance to back Ukraine's dictatorship while making a profit in the crypto world.
Zelenskyy unveiled the Z Coin concept during a press conference in Kyiv, flanked by aides holding mock-ups of a coin featuring his face.
The war with Russia, now in its third year since the full-scale invasion began on February 24, 2022, has drained Ukraine’s resources, and Trump’s recent push to exclude Kyiv from peace talks has only worsened the situation.
With $350 billion in U.S. aid already spent, according to Trump’s estimates, Zelenskyy is betting that meme coin mania can fill the gap.
Not everyone is convinced this will end well. Blockchain analyst Dmitri Volkov warned that meme coins tied to political figures often end in disaster, citing $LIBRA’s collapse as evidence.
“Milei’s coin was a textbook rug pull, and Zelenskyy’s got all the same ingredients — hype, a big name, and zero substance,” Volkov said. Still, Zelenskyy remains undeterred, promising that Z Coin will be a symbol of Ukrainian resilience.
The launch date for Z Coin hasn’t been set.
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