Ukraine confirms airdrop of $30M funds collected in crypto donations

In an attempt to further bolster its fundraising campaign, Ukraine will conduct a cryptocurrency airdrop on March 3. 

Ukraine confirms airdrop of $30M funds collected in crypto donations

The government of Ukraine declared it will airdrop cryptocurrencies donated to the nation's official wallet Companies, non-governmental organizations, and individuals have already contributed over $30 million worth of digital assets to the country plan its ongoing war with Russia. 

A few days after the launch of Russia's "special defense operation," Ukraine started accepting cryptocurrencies as a means of donation, Yesterday(March 1) Polkadot's Founder Gavin Wood placed his name among the contributors by contributing over $5 million value of DOT. The authorities stated they are "forever grateful" to him, indicating a potential airdrop shortly. 

Today (March 2) Ukraine ruling body assured that such a distribution will occur in March 3, it also informed that Mykhailo Fedorov (Vice PM of the nation) will give more details about the initiative. 

A crypto airdrop is an event where an organization published free tokens to members of its community, usually for promotional purposes. The adoption of those assets. 

This is not the first time a country has conducted an airdrop for its citizens. the government of El Salvador allocated a $30 value of bitcoin to individual adults who marked up for the program as the country was preparing to embrace the primary digital asset as legal tender. 

Ukraine's endeavor will mark the first time a country establishes an airdrop amassed by cryptocurrency contributions. 

Given that the authorities have been accepting donations in Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), and Tether (USDT), it remains unclear what assets will be distributed. 

Ukraine has gathered solid support from organizations and individuals part of the crypto space. 

Binance donates $10 million to the country. the world's largest digital asset exchange said it will not stop servicing Russian accounts. The company argued that "crypto is meant to provide greater financial freedom," and such an initiative would oppose its principles. 

It is worth noting that many anonymous individuals also donated large amounts of crypto assets to Ukraine one such mysterious contributor sent 50 BTC to come back Alive a charity organization supporting the Ukrainian army with equipment. At the time of the donation. if equaled more than $3 million. 

Read: Ukraine accepting Bitcoin, Ethereum and USDT donations to support civilians and troops