US Citizens Lost $5 Billion to Crypto Airdrops, Here’s Why!

Jakarta, Pintu News—A recent report by crypto investment firm Dragonfly revealed that geoblocking policies in cryptocurrency airdrops have caused US citizens to lose billions of dollars in the past four years.

The report, titled “State of Airdrops 2025”, analyzed data from 12 Ethereum ETH2.28%->Harga ETH Saat IniRp 32.052.2402.28%Market CapRp 7.444 TriliunVolume TradingRp 594,65 TriliunSuplai BeredarRp 120.452.072-based airdrop projects and found that most projects restrict user access from the US due to strict regulations.

As a result, the total tokens that US users failed to claim are estimated to be worth between $1.84 billion and $2.64 billion. In fact, according to data collected by CoinGecko, the loss figure could be as high as $5.02 billion. These losses impact not only individual investors but also the US government’s tax revenue.

Check out the full news below!

Geoblocking Loses Billions for Crypto Users in the US

In the crypto world, airdrops are a marketing strategy where blockchain projects distribute free tokens to users as a form of incentive or reward. However, many large crypto projects implement geoblocking that prevents US citizens from receiving airdrops, mainly due to the vagueness of regulations in the country.

Of the 12 major projects analyzed in the Dragonfly report, 11 of them restrict US users’ access. Some of the projects included in the study are ApeCoin APE0.68%->Harga APE Saat IniRp 8.7200.68%Market CapRp 0Volume TradingRp 0Suplai BeredarRp 0 associated with the Bored Ape Yacht Club, Arbitrum ARB2.65%->Harga ARB Saat IniRp 6.1272.65%Market CapRp 0Volume TradingRp 0Suplai BeredarRp 0, EigenLayer EIGEN1.24%->Harga EIGEN Saat IniRp 19.0661.24%Market CapRp 0Volume TradingRp 0Suplai BeredarRp 0, and Ethereum Name Service ENS0.94%->Harga ENS Saat IniRp 269.7430.94%Market CapRp 0Volume TradingRp 0Suplai BeredarRp 0.

This report analyzes only a small subset of projects and shows that US users failed to claim billions of dollars in tokens.

Also read: Crypto YouTuber cleared of lawsuit, SEC said to halt 2018 ICO cases!

US Government Loses Up to 18 Trillion IDR in Taxes!

The impact of this policy is felt not only by crypto investors but also by the US government, which loses a large amount of tax revenue.

The Dragonfly report estimates that the federal tax revenue lost could be as much as ($1.1 billion, while state governments lose around $284 million.

Had regulations been clearer and US users had been allowed to participate in airdrops, the government could have earned billions of dollars in taxes. This shows that over-regulating crypto is detrimental not only to investors but also to the country’s economy as a whole.

Read also: Ethereum Price Jumped Slightly Today (3/13/25): Likely to Recover, ETH Bullish Signals Emerging?

Dragonfly Solution: Airdrops Should Be Regulated Like Credit Card Points

To solve this problem, Dragonfly recommends several solutions so that the government and the crypto industry can work together to create more flexible regulations.

One of the main proposals is to equate the airdrop tax to a credit card points system, which allows users to benefit without an excessive tax burden.

In addition, Dragonfly also suggested legal protection for past airdrop projects so that they are not penalized in the future. The company also emphasized the importance of engaging the US Congress in discussions with the crypto community to create more investor-friendly policies and blockchain projects.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Decrypt. Americans May Have Missed Out on Billions of Dollars’ Worth of Crypto Airdrops: Dragonfly. Accessed March 13, 2025
• Featured Image: Cryptoslate