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 ￰0￱ 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 ￰1￱ far, it has issued two tranches of nearly $650 million in compensation to traders liquidated over the weekend, as reported by ￰2￱ 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 ￰3￱ program is designed to reward developers, traders, and content creators who have remained active within the BNB ecosystem despite volatile market ￰4￱ to BNB Chain, the first batch of airdrop distributions has been completed, with the recipient list published on Dune Analytics to ensure ￰5￱ users have posted receipt of the airdrop on ￰6￱ on one of such posts, CZ wrote , “No gov will bail out crypto, but we do what we ￰7￱ 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 ￰8￱ 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 ￰9￱ 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 ￰10￱ reported that Binance experienced the largest outflow among CEXs over the past seven days.