- Binance launches ZRC airdrop tied to Alpha points amid SEC lawsuit dismissal.
- SEC formally drops its 2023 case against Binance with prejudice, ending legal dispute.
- Binance plans ZRC trading contest with 27.5M token prize pool after case resolution.
Crypto exchange Binance has launched a new airdrop campaign for Zircuit (ZRC) tokens just days after the U.S. Securities and Exchange Commission (SEC) formally withdrew its lawsuit against the company. The platform announced that eligible Binance Alpha users can now claim 2,666 ZRC tokens if they meet specific criteria and act within the required timeframe.
According to an official announcement, users with at least 211 Binance Alpha points can participate in the ZRC airdrop by redeeming 15 points. The airdrop opened at 8:30 UTC on June 3, 2025, and users must confirm their claim within 24 hours. Unconfirmed claims will be treated as forfeited.
The campaign is available through Binance’s Alpha Events page and is limited to eligible participants. The platform has also revealed plans for a ZRC trading competition with a total prize pool of 27.5 million ZRC tokens. Details on competition rules and timelines have yet to be released. This rollout adds a new incentive program to Binance Alpha, a feature within the exchange offering exclusive benefits to users based on their engagement.
SEC Ends Nearly Two-Year Lawsuit Against Binance
The new campaign follows a major regulatory development. On May 29, Binance, co-founder Changpeng Zhao, and the SEC filed a joint motion in a Washington, D.C. federal court requesting the dismissal of the agency’s complaint filed in June 2023. The motion noted that the SEC’s Crypto Task Force activities could influence the final resolution of the litigation.
The request to dismiss the case “with prejudice” ensures that the SEC cannot refile the lawsuit in the future. The court filing indicated the decision was based on the regulator’s discretionary authority and policy considerations.
The lawsuit had accused Binance and Zhao of violating securities laws, misusing customer funds, and misleading investors. This legal action was paused twice, once in February and again in April, before the decision to dismiss.
In a separate matter, Binance settled with the U.S. Department of Justice in November 2023, agreeing to pay a $4.3 billion fine. Zhao admitted to violating anti-money laundering regulations and stepped down as CEO. He later received a four-month prison sentence in April 2024. Binance responded to the case dismissal in a public statement, calling it a notable development in the ongoing discussion around digital asset regulation.
