Binance suspends euro stablecoin after 200% price surge
“We will assist the AEUR project team to provide reasonable compensation to affected users” within 72 hours, the exchange said.
Crypto exchange Binance is reimbursing users and delisting the Anchored Coins Euro (AEUR) stablecoin after the token surged more than 200% in value after listing.
According to a Dec. 6 announcement, Binance will compensate users who purchased AEUR at an inflated valuation and failed to sell it after trading was halted earlier in the day. Affected users will receive a portion of the premium amount above the peg of 1 AEUR = 1.08 Tether (USDT) as a refund. The exchange wrote:
The large price volatility also affected the pricing of various AEUR trading pairs, including Bitcoin (BTC), Ether (ETH) and the euro, which also falls within the scope of the exchange’s compensation plan. “To avoid potential losses for other investors, the resumption time of the above AEUR spot trading pairs will be notified separately,” Binance said. The coin is currently suspended for trading on the exchange.
