Dragonfly: U.S. Crypto Users Missed Out on At Least $19 Billion Airdrop Due to Regulation

BlockBeats News, March 12th, according to a BlockWorks report, Dragonfly pointed out in a report that U.S. users have potentially lost between $1.9 billion and $2.64 billion in income due to geoblocking.

Dragonfly wrote: "As of 2024, we estimate that 22-24% of all active crypto addresses globally belong to U.S. residents. Our sample of 11 projects has generated approximately $7.16 billion in total airdrop value to date, with around 1.9 million participants globally during this period, with a median average claim value per eligible address of around $46,000. The federal tax revenue loss from these geoblocking airdrops is estimated to be between $418 million and $1.1 billion, with an additional $107 million to $284 million in state tax revenue losses. These figures do not include any additional tax revenue that may arise from capital gains tax upon the eventual sale of these tokens."