Binance Issues $283 Million in Investor Compensation
Binance has announced a $283 million compensation program for investors affected by the market crash and stablecoin depegging.
The program is a two-phase plan 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, which occurred last Friday, resulted in over $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.
The panic led to a significant loss of value for many coins.
Despite this, Bitcoin has rebounded above $114,000.
Author's summary: Binance compensates investors with $283M.
- Compensation program: $283 million
- Market crash: over $7 billion in liquidations
- Bitcoin rebound: above $114,000