Russian crypto veteran Vladimir Smerkis, co-founder of Blum and former Binance executive, was arrested in Moscow on May 18th for alleged large-scale fraud. This arrest has sparked significant concern within the crypto community, particularly regarding Blum’s planned token airdrops and the potential impact on cryptocurrency ventures operating in Russia. Smerkis’ arrest follows allegations of $15 million in investor losses and is expected to have a major impact on the future of his previously successful ventures, including The Token Fund and Tokenbox. investors are uncertain about the upcoming BLUM token airdrop amid rumors of delays and communication silence from Blum. This uncertainty has ignited skepticism among crypto influencers who have observed the lack of updates from the company, leading some to question if the airdrops were ever truly planned.