Binance suspends euro stablecoin after 200% price surge

Crypto exchange Binance is reimbursing users and delisting the Anchored Coins Euro stablecoin (AEUR) after the token surged more than 200% in value after listing.

According to the 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: 

“After AEUR went online, it attracted the attention of community users. However, some users did not realize that AEUR was a stable currency when they purchased it. Demand surged in the short term, resulting in price… Read more on Cointelegraph

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