Binance Reimburses $283M After Market Crash
Crypto exchange Binance reimbursed users affected by the depegging of several Earn assets, including USDe, BNSOL, and wBETH, which briefly depegged during Friday's market turmoil.
Binance claimed that its core trading systems remained operational throughout and that the volatility was driven by "overall market conditions" rather than a fault in its platform.
The forced liquidation volume processed by Binance platform accounted for a relatively low proportion to the total trading volume.
Users were fully compensated within 24 hours, with Binance later clarifying that the sharp price drops were caused by a display error rather than actual token failures.
For more information, Binance released a statement on recent market volatility and user protection measures.
Author's summary: Binance reimburses users after asset depegging.
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