Binance airdrops

[Marinnorris]

Binance airdrop $45m in BNB to memecoins traders market  crash, the compensation pan marks binance  ecosystems biggest user relief effort yet following the crypto market wipe out of about $20billion.

[Odusko]

Binance airdrop $45m in BNB to memecoins traders market  crash, the compensation pan marks binance  ecosystems biggest user relief effort yet following the crypto market wipe out of about $20billion.

This is a good gesture from the leading cryptocurrency exchange binance, giving back to their customers that suffered lost is somewhat a welcome idea after all the loses went all back to the exchange, because most of those that lost in the recent market crash are derivative trader's who's assets get liquidated, so the exchange tool them all, airdropping some amount is a good gesture to at least reduce the impact of the losses on trader's.

[adaseb]

Yeah I heard about this on twitter and wondering how exactly they plan on doing it?

I am assuming if a meme coin crashed they can airdrop to any holders before the crash. However how do they know which holders actually are Binance customers? They are crediting everyone? What if some didnt sell and just held thru the crash?

I think they are doing this because its easier to credit every holder of a particular meme token than do a partial refund for millions of customers affected by the crash.

[7juju]

Yeah I heard about this on twitter and wondering how exactly they plan on doing it?

I am assuming if a meme coin crashed they can airdrop to any holders before the crash. However how do they know which holders actually are Binance customers? They are crediting everyone? What if some didnt sell and just held thru the crash?

I think they are doing this because its easier to credit every holder of a particular meme token than do a partial refund for millions of customers affected by the crash.

I think they are only going to credit those that held such the affected meme coins in their platform (Binance) they have the data of everyone that held the affected meme coins in their platform because that's the only way they can actually account for the affected persons. Although this is a kind gesture from Binance, but I also see it as a marketing strategy from Binance. This gesture will make meme coins traders that are non Binance users to move to the platform and continue their trading there, so they won't miss out of any future airdrops of this nature.

[rat03gopoh]

it was compensation for an internal liquidity failure (though they wouldn't admit it). Several investigations have been conducted, and many suspect it was the largest "arranged" losses. I mean, look at this https://bitcointalk.org/index.php?topic=5561988.0
Of course Binance would conduct an airdrop, otherwise they would face lawsuits from various jurisdictions, as they have in the past. Furthermore, it's a good opportunity to gain public attention and create the impression that Binance is being generous.

It's a form of "elegant handwashing" I think.

[Salahmu]

I think they are only going to credit those that held such the affected meme coins in their platform (Binance) they have the data of everyone that held the affected meme coins in their platform because that's the only way they can actually account for the affected persons. Although this is a kind gesture from Binance, but I also see it as a marketing strategy from Binance. This gesture will make meme coins traders that are non Binance users to move to the platform and continue their trading there, so they won't miss out of any future airdrops of this nature.

Exchange does not give accountability to memecoins holders on there exchange regarding to fall on that coin, so actually this amount op said they airdrop will not be spent on them because they only experience fall but not there account wiped out. @Odusko was quite clarifying from why they took that decision because it was like people who feel pity to those traders that lost so much and decided to do some charity for them to feel ease. This will definitely attract population of traders because they will also like to be were they would get compensated if at some point they loss this much, so actually in as much as I also see this as some kind of way to draw traders I would also acknowledge there good thoughts about users.

[Yaunfitda]

it was compensation for an internal liquidity failure (though they wouldn't admit it). Several investigations have been conducted, and many suspect it was the largest "arranged" losses. I mean, look at this https://bitcointalk.org/index.php?topic=5561988.0
Of course Binance would conduct an airdrop, otherwise they would face lawsuits from various jurisdictions, as they have in the past. Furthermore, it's a good opportunity to gain public attention and create the impression that Binance is being generous.

It's a form of "elegant handwashing" I think.

Yeah, it looks like they are just washing their hands in the failure and doesn't want to admit their mistakes. And so as a supposedly act of gesture, they decided to this so called Airdrops, but we all know that it's not the usual airdrop as the intentions is for cover up. Nevertheless, for those who are qualified, I'm sure this is a very welcoming news for them as again, they've lost in this internal liquidity failure and it's not their fault. But it's better that losing everything and not getting nothing in return. Not sure though if this is enough for those who lost a lot of money. Maybe they will file a case to try and "force" them to cough more more money for them.