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Wu said that blockchain analysis firm Elliptic disclosed that the Ruble-pegged stablecoin A7A5, which has been online for less than a year, has accumulated over 100 billion USD in on-chain transaction volume, mainly used by Russian-related entities to evade Western sanctions. Data shows that its exchange trading volume is about 17.3 billion USD, primarily exchanged for USDT on the Kyrgyzstan exchange Grinex, serving as a "bridge asset" between the Ruble and USDT. However, as the US, UK, and EU have listed it on sanctions lists, A7A5 activity has significantly cooled down: daily trading volume dropped from 1.5 billion USD to about 500 million USD, Uniswap has blocked the token, and several mainstream exchanges have begun freezing related accounts.