Binance Pays $283,000,000 Reimbursement To Customers, Denies Causing Bitcoin and Crypto Market Crash

Crypto exchange giant Binance says it’s paying about $283 million to customers affected by asset de-pegging issues during Friday’s market crash.

The compensation covers losses from liquidated positions where users held USDE, BNSOL and WBETH as collateral.

President Trump’s renewed tariff threat against China triggered the widespread market selloff, and Binance denies claims that it’s to blame for the major crypto downturn.

“We are aware of claims that the de-pegging of certain Binance Earn products relating to USDE, BNSOL, and WBETH, caused the market crash, and therefore we wish to clarify that it was not the case.

The extreme market downturn occurred before the de-pegging. Records show that during the market sell-off, prices fell to their lowest point between 2025-10-10 21:20 and 21:21 (UTC), while the severe de-pegging occurred after 21:36 (UTC) on the same day.

Where the de-pegging impacted some users who had their positions liquidated due to holding these assets as collateral, Binance has taken responsibility and has fully covered their losses.”

Binance says it will also compensate users affected by delays in internal transfers and Earn product redemptions.

The exchange is also pledging to implement new optimizations in an ongoing effort to continuously improve system performance and risk controls.

 

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