Binance Compensation Program
Binance has launched a $283 million compensation program for investors affected by the recent 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 launches $283M investor compensation program amid market crash.
- Compensation program: $283 million
- Trigger: Market crash and stablecoin depegging
- Impact: Over $7 billion in liquidations