Ukraine Government Cancels Airdrop Ahead of Scheduled Snapshot – CoinDesk

Ukraine Government Cancels Airdrop Ahead of Scheduled Snapshot – CoinDesk

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The Ukrainian government has canceled a planned crypto airdrop as the Russian invasion continues.

  • The announcement was made by the country’s deputy prime minister and minister of digital transformation, Mykhailo Fedorov, via his verified Twitter account on Thursday.

  • “After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the aggression,” Fedorov tweeted.

  • Fedorov said the country will announce non-fungible tokens (NFT) to support Ukrainian armed forces, but emphasized there are no plans to issue any fungible tokens. NFTs are digital assets on a blockchain that represent ownership of virtual or physical items.

  • The airdrop was initially announced on Wednesday on the country’s official Twitter account, following which government officials did not release any further information or announcements regarding the event scheduled for Thursday. Government officials also did not respond to CoinDesk’s multiple requests for comment since the initial announcement.

  • Wednesday’s announcement indicated the goal of the airdrop was to reward donors who have been sending crypto to support Ukraine as it stands against Russia.

  • According to Fedorov’s most recent update on Telegram, the Ukrainian government has raised around $30 million since it began accepting crypto donations last Friday. The government has been raising funds via a range of cryptocurrencies including bitcoin (BTC), ether (ETH) and Polkadot’s DOT.

UPDATE (Mar. 3, 12:26 UTC): Adds NFT details in third bullet.

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Sandali Handagama is a CoinDesk reporter with a focus on crypto regulation and policy. She does not own any crypto.


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