According to Dragonfly's latest "2025 Airdrop Status Report", US users missed huge cryptocurrency airdrop returns due to geographical restrictions. The report analyzes data from 12 airdrop projects (11 geographically restricted projects and 1 unrestricted control project) between 2019 and 2023, with an estimated 920,000 to 5.2 million active U.S. users (5-10% of U.S. cryptocurrency holders) are affected by geographically restricted policies. The study found that in 2024, about 22-24% of the world's active encrypted addresses belong to U.S. residents. The 11 items in the sample created a total of approximately US$7.16 billion in value, with approximately 1.86 million users worldwide participating in the claim, with an average median claim amount of approximately US$4,800 per eligible address. The report estimates that U.S. users lost between $1.84 billion and $2.64 billion in potential gains due to geographical restrictions between 2020 and 2024. More broadly, US users may lose between $3.49 billion and $5.02 billion based on 21 geographically restricted airdrop samples analyzed by CoinGecko. This resulted in US federal tax losses of about $418 million to $1.1 billion, state tax losses of about $107 million to $284 million, and total tax losses of $525 million to $1.38 billion. The report also pointed out that the transfer of crypto companies overseas has also caused a significant reduction in US tax revenue. Take Tether as an example. The company reported a profit of $6.2 billion in 2024. If it fully accepts US taxes, it can contribute about $1.3 billion in federal corporate tax and $316 million in state tax.