Binance has announced a $283 million plan to compensate investors after Friday’s market crash and stablecoin depeg. The exchange confirmed the global sell-off happened on October 10, 2025, between 20:50 and 22:00 UTC.
The crash came after former U.S. President Donald Trump revealed plans for new tariffs on Chinese imports, sparking fears of a trade war and driving heavy market panic.
According to Binance, the two-phase compensation will cover users affected by liquidations and delays in transfers or redemptions. The company said its core systems stayed online during the crash, though some minor technical issues appeared afterward.
“We have completed compensation for users affected by depegging issues within 24 hours after the event,” Binance stated. The exchange added that these measures reflect its focus on user protection and transparency.
The program covers losses tied to Binance Earn products using assets such as USDe, BNSOL, and WBETH as collateral. Many users saw forced liquidations after these assets briefly lost their peg.
Binance clarified that the depeg did not cause the market crash but happened later as prices swung wildly. The firm also promised to compensate users who faced losses from delayed internal transfers or redemption requests.
Meanwhile, Binance CEO Richard Teng officially apologized to all affected users. “I’m truly sorry to everyone who was impacted,” he said, “We don’t make excuses, we listen closely, learn from what happened, and are committed to doing better.”
As the dust settles, the market is starting to recover. At the time of reporting, Bitcoin has risen 3.74% to $115,295, up from a low of $102,000 in the last 24 hours, according to CoinMarketCap.
Notably, in an X post, Veteran trader Peter Brandt shared his bullish outlook on Bitcoin and Ethereum, while Michael Saylor hinted at a potential new Bitcoin purchase.
Binance said it will keep enhancing its systems and liquidity measures as trading activity picks up after the market rebound.
Also Read: Bitcoin and Ethereum Drop as $891M Gets Liquidated
