Binance News: Major Flaws in Crypto Airdrops Highlighted in Binance Report

A recent report by Binance has shed light on some significant issues affecting crypto airdrops, a once-popular method of rewarding cryptocurrency community members. Here’s a closer look at the key findings and implications of the report.

Binance Report Highlights Major Flaws Affecting Crypto Airdrops

Crypto airdrops, once a catalyst for ecosystem growth, are now facing scrutiny due to diminishing rewards, insider manipulation, and bot exploitation. Binance’s latest report reveals these concerns, curbing community trust in airdrops. Pudgy Penguins emerged as a winner with a well-executed distribution that prioritized NFT holders, reinforcing community trust. However, overall, airdrops’ effectiveness is coming into question.

Binance CEO Praises Trump’s Crypto Movement

Binance CEO Richard Teng has praised Donald Trump’s crypto movement, stating that it has created a different operating environment for the exchange. Appointed CEO in November 2023 after Changpeng Zhao stepped down, Richard noted that Binance has benefited from the shift. He also confirmed that the exchange’s political situation has improved rapidly under Trump, after paying a $4.3 billion fine to settle federal charges with the DOJ and CFTC in 2023.