Binance Issues $283 Million in Investor Compensation
Binance has launched a $283 million compensation program for investors affected by the recent market crash and stablecoin depegging.
This move follows a significant market downturn, with over $7 billion in liquidations occurring within an hour, primarily from leveraged long positions.
The compensation plan is a two-phase program, aiming to cover users whose positions were liquidated due to depeg events and those impacted by internal transfer or redemption delays.
Binance has announced a $283 million two-phase compensation plan.
- The market crash was triggered by concerns over a possible new trade war, following an announcement by President Donald Trump to impose high tariffs on Chinese imports.
- Most major coins have also experienced a loss in value.
Author's summary: Binance compensates investors with $283M.