BREAKING: Binance Issues New Statement Regarding Planned Compensation for Losses

According to breaking news, Binance will cover the $283 million loss incurred as a result of the loss of BNSOL, WBETH, and USDE's peg. In its statement, the exchange stated that the global macroeconomic developments between 23:50 on October 10, 2025 and 01:00 on October 11 (UTC+3) led to extreme volatility in the crypto market. It was stated that both institutional and individual investors started selling heavily during this period, which caused a sharp decline in the markets. Binance announced that its futures and spot matching engines, as well as API transactions, were operating smoothly during this period, and that the volatility was largely market-related. However, it was confirmed that some modules experienced brief technical glitches after 00:18, and some assets lost price stability. Related News: What's the Status of the Altcoin Season Index After the Latest Drop? Major Changes The exchange stated that they adhere to the principle of transparency and that users affected by DEPEG were compensated for their losses within 24 hours. As part of its user-focused approach, Binance took two main measures: Earn Products Depeg Compensation: Due to the depeg experienced by some Earn products, such as USDE, BNSOL, and WBETH, users who used these assets as collateral and experienced liquidation have been fully compensated for their losses. Compensation was distributed in two phases, totaling approximately $283 million. Internal Transfer and Earning Delays: Compensation will also be provided to users who suffer losses due to short-term transfer and withdrawal delays during extreme market volatility. The exchange also provided information about the excessively low prices seen in some spot pairs. It was explained that limit orders from 2019 were triggered during the oversold wave, causing momentary price drops. It was also explained that a visual zero price error occurred in some pairs (e.g., IOTX/USDT). This error was caused by the user interface and did not affect transaction data. *This is not investment advice. Continue Reading: BREAKING: Binance Issues New Statement Regarding Planned Compensation for Losses