Binance Issues $283 Million in Investor Compensation
Binance has announced a $283 million compensation program for investors affected by last week’s market crash and stablecoin depegging, as Bitcoin rebounds above $114K.
The compensation plan is a two-phase program that will cover users whose positions were liquidated due to the depeg events and those impacted by internal transfer or redemption delays.
The 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 was triggered by 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's summary: Binance compensates investors with $283M.