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BNB Chain has launched a $45 million “reload airdrop” aimed at compensating users who suffered losses trading memecoins during Friday’s market crash.
The initiative will distribute BNB (<a href="/binance-coin-price-index" rel="noopener noreferrer nofollow">BNB</a>) tokens to more than 160,000 eligible addresses, the network said Monday. Aidrops will begin this week and be completed by early November.
BNB Chain is a blockchain network developed by Binance that is now maintained by a decentralized community. It powers the ecosystem’s native BNB token and supports applications across DeFi, gaming and digital assets.
<a href="https://x.com/cz_binance/status/1977758407336530390" rel="noopener noreferrer nofollow" target="_blank">According</a> to Binance’s founder and former CEO Changpeng Zhao, rewards will be allocated randomly. Ecosystem partners such as Four Meme, PancakeSwap, Binance Wallet and Trust Wallet will help distribute the funds to eligible traders.
The airdrop follows a Friday market downturn that resulted in <a href="https://cointelegraph.com/news/bitcoin-wobbles-110k-trader-says-20b-liquidation-rout-not-bottom" rel="noopener noreferrer nofollow" target="_self">about $20 billion in liquidation</a>s across crypto markets, the largest single-day wipeout in the industry’s history.
On Monday morning, <a href="https://cointelegraph.com/news/bnb-new-high-traders-blame-binance-market-crash" rel="noopener noreferrer nofollow">BNB hit a new all-time high</a> of $1,370 per token, according to data from <a href="https://coinmarketcap.com/currencies/bnb/" rel="noopener noreferrer nofollow" target="_blank">CoinMarketCap</a>. The rebound came even as Binance faced backlash from users who accused the exchange of worsening the market turmoil during the crash.
<figure><img alt="Binance airdrops $45M in BNB to memecoin traders hit by market crash" src="https://s3.cointelegraph.com/uploads/2025-10/0199dea9-edce-7719-8a6b-99b79623134c" title="">
 <figcaption style="text-align: center;">Source: <a href="https://x.com/BNBCHAIN/status/1977735058652791123" rel="noopener noreferrer nofollow" target="_blank">BNB Chain </a>
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Related: <a href="https://cointelegraph.com/news/binance-offers-crypto-as-a-service-solution-for-tradfi" rel="noopener noreferrer nofollow" target="_self">Binance joins Coinbase in offering white label crypto services for TradFi</a><a href="https://cointelegraph.com/news/binance-offers-crypto-as-a-service-solution-for-tradfi" rel="noopener noreferrer nofollow" target="_self">&nbsp;</a>
<h2 id="binance-s-response-to-the-crypto-sell-off">Binance’s response to the crypto sell-off</h2>
A Truth Social post from US President Donald Trump threatening 100% tariffs on Chinese imports <a href="https://cointelegraph.com/news/trump100-tariffs-china-bitcoin-plummets-110k" rel="noopener noreferrer nofollow" target="_self">sent crypto markets</a> into a historic liquidation on Friday, with Binance caught in the eye of the storm.
Several Binance users <a href="https://cointelegraph.com/news/bnb-new-high-traders-blame-binance-market-crash" rel="noopener noreferrer nofollow" target="_self">reported glitches in the system</a> during the downturn that left them unable to exit their positions. One trader, SleeperShadow, wrote on <a href="https://x.com/Flywheel_King/status/1976916767722422439" rel="noopener noreferrer nofollow" target="_blank">X</a> Saturday that Binance had “shut down their system during a major market crash,” leaving the trader “unable to close” futures positions.
Another flashpoint came from Ethena’s synthetic dollar, USDe, which dropped to $0.65 on Oct. 11 on Binance but remained near its $1 peg elsewhere. Guy Young, founder of USDe issuer Ethena Labs, said the depeg could be attributed to <a href="https://cointelegraph.com/news/usde-depeg-oracle-issues-ethena-founder" rel="noopener noreferrer nofollow">Binance using oracle data</a> from its own orderbook, where liquidity was comparatively thinner, instead of an external price feed.
A third issue was that altcoins, including IoTex (<a href="/iotex-price-index" rel="noopener noreferrer nofollow">IOTX</a>), Enjin (<a href="/enjin-enj-price-index" rel="noopener noreferrer nofollow">ENJ</a>) and Cosmos (<a href="/cosmos-price-index" rel="noopener noreferrer nofollow">ATOM</a>), <a href="https://cointelegraph.com/news/binance-tokens-not-crash-0-display-issue" rel="noopener noreferrer nofollow" target="_self">appeared to crash to $0 on Binance</a> during the market downturn, despite being listed above $0 on other exchanges.
On Sunday, Binance released a “statement on recent market volatility” to address user <a href="https://www.binance.com/en/support/announcement/detail/d9cb0d52d7c142a5be4f49732bd8760c" rel="noopener noreferrer nofollow" target="_blank">concerns</a>. The exchange wrote that it conducted a “comprehensive review” that confirmed its “core futures” remained operational during the market downturn.
<figure><img alt="Binance airdrops $45M in BNB to memecoin traders hit by market crash" src="https://s3.cointelegraph.com/uploads/2025-10/0199deb0-e644-7b13-9265-7e60ba0fa6fd" title="">
 <figcaption style="text-align: center;">Source: <a href="https://www.binance.com/en/support/announcement/detail/d9cb0d52d7c142a5be4f49732bd8760c" rel="noopener noreferrer nofollow" target="_blank">Binance.com</a>
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Binance said the brief price collapse for specific spot pairs was caused by old limit orders being triggered amid thin liquidity during the sell-off. The exchange added that a separate “zero price” display glitch stemmed from a recent change in decimal settings, not from <a href="https://cointelegraph.com/news/binance-tokens-not-crash-0-display-issue" rel="noopener noreferrer nofollow">tokens actually falling to zero</a>.
It also noted that forced liquidations on its platform comprised only a small share of total market activity, suggesting the volatility was primarily driven by broader market conditions rather than internal malfunction.
Still, Binance acknowledged that the depegging of USDE (as well as BNSOL and WBETH) caused some users holding these assets as collateral to have their positions liquidated. In response, the exchange has covered their losses, totaling $283 million.
Magazine: <a href="https://cointelegraph.com/magazine/memecoin-degeneracy-is-funding-groundbreaking-anti-aging-research/" rel="noopener noreferrer nofollow" target="_self">Memecoin degeneracy is funding groundbreaking anti-aging research</a>

Binance airdrops $45M in BNB to memecoin traders hit by market crash

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