Binance Covers $283 Million Loss After Wrapped Token Crash
Binance has compensated users $283 million to restore stability after a period of market volatility.
A crash involving the depegging and wrapping of several synthetic tokens occurred on Friday, October 10, 2025, amidst a larger sell-off in the crypto market.
- USDe (Ethena’s synthetic dollar)
- BNSOL (Binance’s Solana staking token)
- WBETH (Wrapped Beacon ETH)
These Binance “Earn” assets temporarily lost their expected values, with some token prices showing as “0” on screens due to a display glitch.
Binance explained that the glitch was caused by a recent update that changed the number of decimal places shown.
Author's summary: Binance compensates $283M.
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