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, following President Donald Trump’s announcement of plans to impose high tariffs on Chinese imports.
This raised concerns about a possible new trade war.
- The compensation program aims to support investors who suffered losses during the market crash.
- Many other coins have also lost value amidst the market volatility.
Author's summary: Binance compensates investors with $283M.
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