Binance Comeback: A Massive $500,000 Airdrop and Compensations

Buckle up! Because Binance is about to give away $500,000 in cryptocurrencies to approximately 1 million users. At the same time, the world’s leading crypto exchange has also announced a compensation plan for traders holding AEUR, a stablecoin that experienced a depeg from the euro. Details!

Binance is gearing up for a $500,000 crypto drop

After suffering heavy losses from the attack by the U.S. Treasury Department and the Department of Justice (DOJ), which included a $4.3 billion fine, Binance is now looking to the future. Thus, the company, without its former CEO, CZ, is engaging in operations to retain its users.

Airdrop time

We're giving out $500k worth of crypto, ranging from 1 $SHIB to 1 #BTC

Even better, all you have to do is make a swap using your #Binance Web3 Wallet to qualify.

Go https://t.co/Sn9EgPxypf pic.twitter.com/aGCANh5sbP

— Binance (@binance) December 5, 2023

In a recent publication, CryptoPotato covered this official communication from Binance shared on X (former Twitter). According to this crypto media, the airdrop plans to distribute approximately $500,000 in cryptocurrencies to about one million users. The assets in question can range from a SHIB to a BTC, or $44,000.

By December 31st, users will therefore have an interest in closely following this offer in order to see their wallets embellished with cryptocurrency gifts. This will be done two weeks after the announced date.

It should be noted that Binance requires the use of the newly announced wallet, the Binance Web3 Wallet, to take advantage of this airdrop. As for this wallet, you should know that it is a secure device conducive to self-custody of cryptocurrencies and the exchange of thousands of assets on more than 30 networks. The user also has the option of quick fund transfers, exploring dApps, and other equally important benefits through this wallet.

The company behind the BNB token also mentioned its partners in its tweet. Among others, we can cite Maverick Protocol, GMX, Gala Games, Kava, Chiliz, Alchemy Pay, and Ludo Finance.

A Catch-up Session with Anchored Coins EUR (AEUR)

The AEUR, a stablecoin pegged to the euro that Binance had just listed on its platform, experienced a surge in price during its introduction on the spot market. Instead of trading at $1.07, this asset was priced at $3.25 per piece last Tuesday. A situation that caused confusion among several cryptocurrency traders.

To make amends, Binance proposes a compensation plan within three days. However, conditions must be met to be awarded the refunds, such as holding onto AEUR assets.

Coingape also pointed out that Binance resolved this AEUR de-peg issue quickly. The cryptocurrency exchange had to suspend several pairs associated with this stablecoin (AEUR/USDT, BEC/AEUR, ETH/AEUR, and EUR/AEUR) during the operation.

The team led by Richard Teng, the new CEO of Binance, must be working hard right now to restore the company’s reputation.