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 crypto market crash, resulting in over $7 billion in liquidations within an hour, primarily from leveraged long positions.
The crash 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 more than $7 billion in liquidations within an hour.
- The compensation program is a two-phase plan.
- 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.
Author's summary: Binance offers $283M in compensation.