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After the amount of crypto aid exceeded 50 million dollars…Ukraine announces free airdrop distribution for its citizens

After the amount of crypto aid exceeded 50 million dollars…Ukraine announces free airdrop distribution for its citizens

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Answer After the amount of crypto aid exceeded 50 million dollars…Ukraine announces free airdrop distribution for its citizens

The Ukrainian government on Tuesday told its citizens that it will distribute to its citizens donated cryptocurrencies to the country’s official wallet, as the donations exceeded $50 million.

The country’s official Twitter account tweeted that a free airdrop of cryptocurrency would be offered to Ukrainian citizens.

A screenshot will be taken on March 3, at 6 pm Kyiv time (4 pm GMT).

An airdrop is an event where a crypto and blockchain project usually releases free cryptocurrencies to members of the community, and this is done as a promotional tactic.

Airdrops also gained traction in the NFT community last year.

Members of the OpenSea marketplace recently received a free Ethereum-based cryptocurrency called SOS.

Given that the Ukrainian government has been accepting donations in the form of Bitcoin, Ethereum and Tether since the beginning of the Russian invasion, it is not yet clear what digital currencies will be distributed.

Crypto donations to Ukraine exceed $50 million:

A few days after the Ukrainian government began asking for donations through cryptocurrency, the community has donated more than $50 million in digital currencies to the country, according to the data aggregator.slow“.

The Russian invasion also saw a sharp rise in cryptocurrency adoption in the country, with citizens turning to Tether after electronic payments were suspended in the country.

Reports indicated that the shortage of cash was spurring trading through Bitcoin.

Read:Gemini acquires Shard X, a cryptocurrency storage solutions company

Ukraine has also tried to use digital currencies as a way to increase pressure on Russia to back down.

As the government recently asked several major cryptocurrency exchanges to ban Russians from entering their exchanges, Ukrainian Deputy Prime Minister Mikhailo Fedorov recently announced a reward for any information related to cryptocurrency wallets of Russian and Belarusian politicians.

Read:The CEO of (Binance) explains the role of (BNB) currency in its decentralized platform

Both steps have been criticized by the crypto community, which has always advocated decentralization.

It is worth noting that Ukraine was a major supporter of cryptocurrency adoption, as it had laws that it recognized even before the Russian invasion.

Ukraine ranked fourth in the Global Cryptocurrency Adoption Index last year.

The latest sanctions against Russia, some of the toughest to date, have fueled speculation that the country could use cryptocurrencies to bypass the restrictions.

Read also:

Mike Novogratz: The Russo-Ukrainian War Could Boost Crypto and Weaken the US Dollar

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