Binance Is Giving Away $1.4 Million in BNB as an Apology

sludgefeed.com 2019-05-15 23:25
Reading time: ~2 m


Binance, the world’s largest crypto exchange, came back online in full today following a weeks hiatus that extended to both deposits and withdrawals on the platform — the result of security maintenance that came in response to a recent hack that resulted in 7,000 bitcoin (BTC) being stolen from the platform’s hot wallet.

🚨 Trading is now LIVE! 🚨

Thank you, for all of your patience and incredible support. 💛 pic.twitter.com/DPZhBLLyL4

— Binance (@binance) May 15, 2019

While Binance stumbled briefly out of the gate due to the surge in use, the exchange is currently stable with all deposits and withdrawal fully enabled.

As a show of good faith to the investor community for sticking with Binance through the maintenance period, the exchange’s CEO, Changpeng “CZ” Zhao, recently revealed that Binance will be giving away $1.2 million in Binance Coin (BNB).

First and foremost, giving $1,200,000 equivalent in $bnb back as a thank you for standing by us, also one level up for all VIPs. https://t.co/nLAGEr6p4I

— CZ Binance (@cz_binance) May 15, 2019

According to the giveaway announcement, all users with a valid trading volume of 1 BTC or more (buy and sell orders) across any trading pairs on Binance during the promotion period of — today until May 22 — will split a pool of 50,000 BNB (currently worth $1.4 million).