Binance has rolled out nearly $650 million in compensation and a $45 million Reload Airdrop to users
Binance chief executive Changpeng “CZ” Zhao has reaffirmed the exchange’s commitment to cushioning crypto users from market shocks, saying that while governments are unlikely to step in to rescue digital assets, the leading exchange will continue to “do what we can.”
His comments come amid ongoing compensation payments to users affected by the recent market crash and the rollout of a new $45 million community airdrop through the BNB Chain.
Binance takes the lead on user compensation
Following last week’s platform glitch and the subsequent depegging of USDe, BNSOL and WBETH, Binance began compensating users whose positions were adversely affected. So far, it has issued two tranches of nearly $650 million in compensation to traders liquidated over the weekend, as reported by Cryptopolitan.
Alongside the compensation, Binance has turned to its community engagement playbook with the launch of the Reload Airdrop, a $45 million initiative conducted in partnership with Four Meme, PancakeSwap, Binance Wallet, and Trust Wallet. The program is designed to reward developers, traders, and content creators who have remained active within the BNB ecosystem despite volatile market conditions.
According to BNB Chain, the first batch of airdrop distributions has been completed, with the recipient list published on Dune Analytics to ensure transparency.
Many users have posted receipt of the airdrop on X. Commenting on one of such posts, CZ wrote, “No gov will bail out crypto, but we do what we can. Glad to see people sharing what they received.”
Yi He strikes back at ‘FUD’ allegations
In parallel, Binance’s co-founder and Chief Customer Service Officer Yi He has taken a more combative stance against what she described as coordinated misinformation campaigns targeting the exchange.
Responding to a post by crypto analyst Eljaboom, who accused some commentators of “spreading false” claims about an alleged $21 billion in outflows, Yi He wrote on X: “If you are a crypto KOL and someone offers you less than $20K to publish FUD about Binance, consider it an insult. That’s their standard rate for others. If we can help everyone earn some cash by posting a single message worth $20K to criticize Binance, we’d be honored.”
Eljaboom’s earlier post dismissed reports of massive outflows as “blatantly wrong,” stating that Binance had recorded $4.26 billion in inflows over 24 hours.
However, CoinGlass, a cryptocurrency futures trading and information platform, posted earlier in the day that Binance had recorded over $21 billion in withdrawals over the past seven days. However, given the fact that data changes in real-time, all parties may be correct in their claims.
As of the time of writing, Binance had recorded $3.19 billion in outflows, according to CoinGlass.
Rebuilding trust after a turbulent week
The recent exchange between Binance’s top executives and the crypto community reveals an industry still grappling with fragility and mistrust. For many retail investors, the compensation efforts have softened the blow from the flash crash, but skeptics argue that the company’s dominant role makes it both a safeguard and a single point of failure.
Some users on X have accused the platform of foul play in the recent crash, with some alleging that the glitch was intentional and that Binance stole from users to fund the airdrop. Critics also disagree with the idea of bailouts coming from a central authority, in this case Binance, which they claim is in opposition with the ideals of decentralization.
Despite these opinions, Binance’s willingness to take responsibility, even without legal obligation, has earned it cautious praise. According to CZ, this isn’t the first time the exchange is compensating its users following a market crash, as he referenced the $6 million they used to reimburse users after China banned crypto exchanges in 2017.
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