US Users Missed Out on $2.64 Billion in Airdrop Revenue

Dragonfly estimates that US users have missed out on potential revenue of $1.9 to $2.64 billion due to geoblocking and the regulatory environment. Key points include:

22-24% of all active crypto addresses worldwide belonged to US residents in 2024.
11 projects generated approximately $7.16 billion, with 1.9 million claimers participating globally.
The median claim value was around $4.6 thousand per eligible address.
Federal tax revenue loss from geoblocked airdrops ranges between $418 million and $1.1 billion.
State tax revenue foregone is estimated between $107 million and $284 million.

The report questions the lack of regulatory clarity on airdrops and suggests implementing a safe harbor for non-fundraising airdrops with issuer disclosures and rules against manipulation. This could provide protection for both firms and users in the crypto space.