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 program follows a significant market downturn, with over $7 billion in liquidations within an hour, primarily 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.
- The compensation plan is a two-phase program.
- It will cover users whose positions were liquidated due to the depeg events.
- It will also cover those impacted by internal transfer or redemption delays.
No official statement from President Donald Trump is provided in the text.
Author's summary: Binance compensates investors with $283M.
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