Binance allocates $45 million to rescue Meme coin players, can BNB reach a new high because of this?
On Black Friday, the market plummeted, and Binance directly allocated $400 million for a mutual support plan to reassure users. The most notable aspect was the $45 million airdrop to Meme coin investors, along with a refund of $283 million to users affected by platform malfunctions.
This operation is actually quite smart. BNB Chain, together with Four.Meme and PancakeSwap, launched a rebirth support plan specifically for retail investors who suffered losses trading Meme coins during the crash, with over 160,000 people eligible. The first batch has already distributed nearly 9,000 BNB to almost 40,000 addresses, and several more batches will be sent out before early November.