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.
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 crypto market crash, which occurred on Friday, led to 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 more than $7 billion in liquidations within an hour.
Bitcoin has rebounded above $114K.
Author's summary: Binance launches $283M compensation program.
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