Ukraine Confirms Cryptocurrency Airdrop Amid Russian Invasion

The government of Ukraine has confirmed that it will conduct a cryptocurrency airdrop.

What Happened: In an announcement from the government’s official Twitter account, Ukraine said that it would airdrop the crypto tokens it had received in the form of donations over the past week.

Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6pm Kyiv time (UTC/GMT +2 hours).
Reward to follow!
Follow subsequent news re Ukraine’s crypto donation campaign at @FedorovMykhailo

— Ukraine / Україна (@Ukraine) March 2, 2022

The snapshot of the token distribution is set to take place on March 3 at 6 p.m. Kyiv time.

There is no further clarity about the beneficiaries of this airdrop and whether this would be limited to Ukrainian citizens. El Salvador had airdropped about $30 billion worth of Bitcoin to citizens last year after making the apex cryptocurrency legal tender in the country.

Why It Matters: Ukraine has received, at least over $37 million in crypto donations from across the world, since it made the appeal on Saturday.

The government began accepting donations in Bitcoin BTC/USD, Ethereum ETH/USD — and, most recently, in Polkadot DOT/USD after appealing to the public for help following Russia’s invasion.

Price Action: At press time, Bitcoin was trading at $43,809, up 1.18% in the last 24 hours. Ethereum was trading at $2,971, gaining 1.72% and Polkadot was trading at $18.71, down 0.10% over the same period.