The scale and success of the Ethena airdrop attracted attention from regulators worldwide, potentially influencing how authorities view and regulate token distributions. Different jurisdictions likely analyzed the event through various regulatory frameworks including securities laws, tax regulations, and financial services oversight. The event may have accelerated regulatory clarity in some regions while potentially prompting new restrictions in others. The global regulatory response to the ethena airdrop represents an important data point in the ongoing negotiation between innovative cryptocurrency practices and established regulatory frameworks. How regulators ultimately respond to such events will significantly shape the future of token distributions and could determine whether airdrops remain a viable mechanism for community-based protocol bootstrapping or become constrained by regulatory requirements that alter their fundamental nature.