Coinbase’s Airdrop Fiasco: An Influx Of Lawsuits And Criticism
On January 10, Flare Networks began distributing free FLR tokens to holders of XRP in a highly-anticipated airdrop event. To qualify, participants were required to provide proof of their XRP ownership through a screenshot taken in December 2020.
Participating exchanges distributed the FLR tokens, but the value of the incentives was less than expected. Additionally, the FLR token reached an all-time high of $0.15 on the day of the airdrop, but within a week, its value had dropped 71.5% to trade at $0.00041 at the time of this writing.
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