Binance.US New CEO Overrides Previous Decision on Supporting Songbird Airdrop

Binance.US’s new CEO Brian Shroder

November 12, 2021

Reading Time: 2 minutes

Binance.US’s new CEO, Brian Shroder, seems to be taking his new role by storm. Barely a month after he started, CEO Shroder has announced that he would be overriding Binance.US’s previous decision over support of the Songbird Airdrop.

Customer-Centric CEO Pushing Support for Songbird

Under the leadership of former CEO Brian Brooks, Binance.US had previously decided not to support Airdrop for its XRP users.

Last evening, Binance.US’s new CEO Brian Shroder announced a contrary stand via Twitter. CEO Shroder claims to have heard the people’s demand and agrees with them as it’s the right thing to do. As a customer-centric CEO, he had decided to reverse the decision by his “predecessors.” In the future, Binance.US will be supporting the Songbird ($SGB) airdrop for its users.

The support will be to Flare’s Songbird Airdrop Program for eligible XRP holders on the platform. The news is amidst the regulatory storm that crypto exchange Binance is going through now.

Britain’s financial oversight agency has blocked any Binance activity in the region, and Japan has also declared Binance’s operations in the country as illegal. Tax agencies, the Department of Justice, and the Commodity Futures Trading Commission in the US are also after the exchange.

The regulatory scrutiny has reduced investor confidence in Binance. Thus, this move to honor the commitment to XRP holders might help restore this confidence.

Binance’s Support for Songbird Does Not Guarantee Listing

Binance’s support for Songbird Airdrop will include XRP balances in Spot wallets, Margin and Savings accounts, and Coin Margined Future wallet. However, XRP balances below 10 XRP will not be eligible for the Airdrop.

The support announced by Binance.US’s new CEO Brian Shroder, however, does not guarantee SGB listing on Binance. When it first announced its support, Binance said SGB would have to go through the strict review process that any other coins listed on it underwent. Clients should not assume that this is a promise for a possibility of listing.

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