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  • Writer's pictureJamal Saafir

Binance.US Update For XRP Holders

Updated: Nov 22, 2023


According to a report from Crypto News, Binance.US crypto exchange has released a much-anticipated update for XRP holders. In a recent announcement, Binance.US revealed details surrounding the Flare Network (FLR) airdrop for XRP holders.


Binance.US stated that it has successfully airdropped FLR to XRP holders with a balance of at least 10 or more XRP during the December 11th, 2020 snapshot.

The airdrop installment, totaling 15% of the claimable FLR tokens, was dispensed on October 25th, 2023, at 7:00 a.m. PDT or 10:00 a.m. EDT due to the token disbursement timeline specified by Flare Protocol's Flare Improvement Proposal 01

(FIP.01).


The snapshot for the FLR airdrop was taken on December 11th, 2020, and takes into consideration the total XRP balance held on the exchange by Binance.US user accounts at the time of snapshot. Qualified XRP holders should receive FLR tokens at a ratio of 1 XRP to 0.1511 FLR.

The first disbursement of Flare tokens on Binance.US comes roughly 10 months after other cryptocurrency exchanges. The initial part of the disbursement in early January, saw 4.279 billion FLR tokens sent to millions of recipients across multiple exchanges.


Binance.US, as well as Coinbase, delisted XRP from its platform as a result of the Ripple lawsuit filed by the United States Securities and Exchange Commission in December 2020.


Following the historic ruling on July 13th, which concluded that XRP sold on exchanges does not qualify as securities, XRP was relisted by major crypto exchanges Coinbase, Gemini, and Binance.US.


After the initial airdrop distribution in January, Flare began a 36-month series of FlareDrops of 24.2 billion FLR, which recipients who have wrapped their acquired Flare tokens can claim. One-eighth of the 36 planned airdrops took place on October 13th.


Binance.US says it has not decided if it will support the buying, selling or trading of FLR on the exchange and that its support of this airdrop does not guarantee the

listing of FLR on Binance.US.

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