Ukraine Government Cancels Crypto Airdrop: Report

The Ukraine government cancels the crypto airdrop as the Vice Prime Minister announced NFTs to support the Ukrainian Armed forces so let’s read more in today’s latest cryptocurrency news.

Ukraine’s Vice Prime Minister Mykhailo Fedorov announced that Ukraine canceled its crypto airdrop which was set to begin today at 6 PM Kyiv time. Fedorov tweeted:

“After careful consideration, we decided to cancel airdrop.”

He also announced that Ukraine will have NFTs to support the armed forces of the country and the tweet also pointed out that Ukraine doesn’t have any more plans to issue fungible tokens. The update that the Ukraine government cancels the crypto adoption is the latest in a series of crypto-related efforts on behalf of the government in Ukraine during the Russian invasion. The Ukrainian government’s official Twitter account was publishing some more information relating to the country’s crypto donations.

After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the agression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens

— Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022

The official updates moved from the Ukrainian government’s Twitter account to one of the vice prime ministers. During the previous week, Ukraine has been receiving crypto donations in BTC, ETH, USDT, and now DOGE and DOT. The government also announced on February 26^th that they are accepting crypto donations. According to the blockchain records, the governemnt received over $10 million and $16 million in BTC and ETH respectively with that number today reaching over $50 million.

As reported earlier, Ukraine’s ruling body assured that this distribution will happen today, March 3 and it also informed that Mykhailo Fedorov who is the Vice PM will give more details about it. A crypto airdrop is often an event where an organization releases free tokens to members of the community for promotional purposes and the move is intended to encourage the adoption of these assets. This is not the first time that ta country launched an airdrop for its citizens, however.

This is the latest crypto-related move as an initiative of the Ukrainian government to raise funds amid the Russian invasion. Last week, the government’s official Twitter account shared BTC and ETH addresses when it announced Ukraine was accepting crypto donations and according to the records, Ukraine raised over $20 million in BTC, ETH, and others, combined to date. The country is accepting Polkadot donations as well so the governemnt tweeted the announcement saying that “all people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom.”