365Crypto
BNB Chain is launching a $45 million airdrop to compensate traders who lost money during last week’s brutal market crash. It’s being called the largest user relief effort ever in Binance’s ecosystem.
Over 160,000 wallets will receive free BNB as part of a “reload airdrop.” The tokens will arrive gradually this week and finish distribution by early November.
BNB Chain, originally built by Binance but now maintained by a decentralized community, supports thousands of apps across DeFi, gaming, and NFTs. Binance founder Changpeng Zhao confirmed that the airdrop rewards will be randomly allocated.
Massive Crash, Massive Response
The move comes after a Friday market collapse that wiped out around $20 billion in crypto value — the biggest single-day liquidation in industry history.
Even with the chaos, BNB rebounded fast, hitting a new all-time high of $1,370 Monday morning. Some traders, however, accused Binance of fueling the panic with system outages.
The Trump Tweet That Sparked It All
A Truth Social post from Donald Trump threatening 100% tariffs on Chinese imports triggered a global sell-off. Binance found itself at the center of the storm as users reported they couldn’t close positions due to system errors.
Others pointed to Binance’s price feed system, which briefly showed some altcoins like Enjin and Cosmos at zero. Binance said this was a decimal display glitch, not a real crash.
Binance’s Official Explanation
In a weekend statement, Binance said its core futures system worked fine throughout the volatility. It blamed sudden sell pressure and old limit orders for some strange price dips.
The exchange also confirmed that it compensated users affected by collateral depegs — including USDe, BNSOL, and WBETH — covering losses worth $283 million.
(BNB: Binance’s native token used for trading and fees.
Depeg: When a token meant to track a fixed value, like $1, drops below that level.)
