Ukraine Cancels Planned Crypto ‘Airdrop’ Rewards for Donations

Ukraine has scrapped a plan to reward people who donated to its fight against a Russian invasion with newly created crypto assets, following complications with the project.

The official verified Twitter account for Ukraine said on Wednesday it planned to issue a so-called “airdrop,” a common tool for early-stage crypto platforms to attract users by offering free tokens to jump start a project. But a day later, Ukraine’s Vice Prime Minister Mykhailo Federov said in a tweet that the nation had decided to cancel the project. The tweet wasn’t independently verified by Bloomberg News. “Every day there are more and more people willing to help Ukraine to fight back the aggression,” Federov said in a tweet from his personal verified Twitter account on Thursday. He added that Ukraine will announce a drop of nonfungible tokens to support the Ukrainian Armed Forces soon, but that it has no plans to issue any fungible tokens such as cryptocurrencies.