Binance Announces HODLer Airdrops Program for BNB Holders Following Reports That Zhao Controls 60% of the Token's Circulating Supply

The so-called HODLer Airdrops program will reward BNB holders with tokens issued by projects “with a large token circulating supply that intend to soon list on Binance.”

Crypto exchange Binance has announced a new airdrop program for BNB holders.

The move comes amid reports that Binance founder Changpeng Zhao controls over 60% of the token’s circulating supply.

Binance announced the new program in a Wednesday announcement on its website. The program is aimed at Binance Coin (BNB) holders and is designed to “foster a healthy and sustainable market environment.”

BNB holders will be rewarded with tokens from projects “with a large token circulating supply that intend to soon list on Binance” as part of the HODLer AirDrops program. The only requirement is that BNB holders participate in Binance's Simple Earn lending program and lock their tokens.

Binance did not specify which tokens will be airdropped to Simple Earn participants. However, the exchange stated that it is looking for "small to medium projects with strong fundamentals, a large circulating supply, and strong and organic communities."

To participate in the program, BNB holders must complete KYC (Know Your Customer) verification. Binance also stated that eligibility will be determined by the user's “country or region of residence,” but no further details were provided.

The new program was announced shortly after reports surfaced indicating that Zhao, who was recently sentenced to four months in prison after pleading guilty to money laundering violations, actually owns 64% of BNB's circulating supply, giving him control over tokens valued at more than $56 billion.

According to a Forbes investigation, BNB's initial coin offering in 2017 was initially “undersubscribed,” prompting Zhao and his company to “funnel unsold shares into wallets he controlled.”

Binance has yet to officially comment on Forbes' findings.

News source：https://www.kdj.com/cryptocurrencies-news/articles/binance-announces-hodler-airdrops-program-bnb-holders-reports-zhao-controls-token-circulating-supply.html

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