Binance Issues $283 Million in Investor Compensation Amid Market Crash and Stablecoin Depegs
Binance launches a $283M compensation program for investors affected by last week’s market crash and stablecoin depegging, as Bitcoin rebounds above $114K.
Binance has announced a $283 million compensation program for investors, following last week’s market crash and temporary depegging of some stablecoins.
Compensation Plan
In an official statement, Binance announced a $283 million two-phase compensation plan, covering users whose positions were liquidated due to the depeg events and those impacted by internal transfer or redemption delays.
Market Crash
The crypto market crash on Friday led to more than $7 billion in liquidations within an hour, with most coming from leveraged long positions.
The sell-off followed President Donald Trump’s announcement of plans to impose high tariffs on Chinese imports, raising concerns about a possible new trade war.
Many other coins have also lost value.
Author summary: Binance compensates investors $283M.
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