Share this article
Ukraine Receives Over $7M in Crypto Donations After Airdrop Announcement
It is currently unknown what the airdrop entails, although Ukraine’s tax office announced there will be no tax on captured Russian tanks.
By Sam Reynolds
Updated May 11, 2023, 7:18 p.m. Published Mar 2, 2022, 10:20 a.m.
Ukraine received over $7 million in crypto donations after the country announced an airdrop is inbound, according to on-chain data.
- Ukraine received $1.1 million in ether , $6 million in DOT and other cryptos, after the announcement on Wednesday. This would take the country's total crypto donations to over $40 million.
- Before the airdrop over $33 million in crypto had been donated to Ukraine’s war efforts.
- An airdrop involves sending free tokens as an incentive for an action. Usually project creators airdrop tokens as a way of building adoption.
- It’s not yet known what Ukraine's airdrop would entail. Ukraine has said that any Russian soldier who surrenders would get a payment of approximately $48,000, and crypto could play a role in this.
- Tax authorities in Ukraine have said that captured Russian equipment such as tanks do not need to be declared as taxable income as “combat trophies ... were acquired not as a result of the conclusion of any type of transaction.”
- However, for Ukraine tax residents an airdrop would likely be taxable income under current guidance. Tax authorities have not given a clear position on the tax liability of a non-fungible token (NFT) of a captured Russian tank.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Read more: Ukraine Says 'Airdrop Confirmed’ After Receiving $33M Crypto Donations
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase rolls out stock trading, prediction markets and more in bid to become the ‘Everything Exchange’
Coinbase is dramatically expanding the assets available to trade on its platform, including novel cryptocurrencies, perpetual futures, stocks and prediction markets, starting with Kalshi.
What to know:
- Coinbase is expanding offerings on its platform, introducing hundreds of top stocks based on market cap, trading volume, etc, with plans to add thousands of additional stocks and ETFs over the coming months.
- Coinbase users will also be able to trade on the outcomes of real-world events like elections, sports, collectibles, and economic indicators, starting with Kalshi and more to be integrated over time.
- A new AI-driven wealth management advisory service has been introduced, as well as Coinbase Business to help startups and small businesses incorporate crypto.
Top Stories
