Ukraine Announces Airdrop After Crypto Aid Exceeds $50 Million

The Ukraine government said on Tuesday that it will airdrop cryptocurrency given to the country’s official wallet as donations reached $50 million.

According to the country’s official Twitter account, an airdrop has been confirmed, and a snapshot will be taken on March 3 at 6 p.m. Kyiv time (4 pm GMT).

An airdrop is a promotional event in which a developing blockchain startup distributes free tokens to members of its community. The move is intended to increase interaction with the platform.

Since last year, airdrops have acquired popularity in the NFT community. 

Given that the Ukrainian government has been receiving bitcoin, ethereum, and tether donations since the start of the Russian invasion, it was unclear what assets would be allocated.

According to data aggregator Slowmist, the community has contributed more than $50 million in digital assets to Ukraine just a few days after the Ukrainian government began seeking donations via crypto.

The Russian invasion has also resulted in a surge in crypto adoption in the nation, with locals flocking to Tether after electronic payments were banned. According to reports, a cash scarcity was also driving Bitcoin transactions.

Ukraine’s Vice Prime Minister, Mykhailo Fedorov, has proposed a reward for any information about the crypto wallets of Russian and Belarussian leaders. The measures were met with criticism from the crypto community.

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Patrick

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