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Binance paid $283 million to users affected by depegged assets during Friday’s market crash.
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The affected tokens were USDe, BNSOL, and WBETH, which briefly lost their pegs.
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Binance said the market downturn happened before, not because of, the depeg event.
Compensating Impacted Users
Binance said it has paid out $283 million to users impacted by depegged assets following Friday’s volatility. The event affected Ethena’s USDe, Binance’s BNSOL, and WBETH tokens, which temporarily lost their peg during the sell-off.
USDe dropped to as low as $0.66 on Binance before stabilizing. Users with futures, margin, and Earn positions during the 40-minute disruption received direct compensation.
Exchange Responds to Speculation
Some traders claimed Binance’s depegs triggered the broader market crash, but Binance said the opposite was true. The exchange cited records showing that the sell-off started before the price deviation occurred.
Binance has since implemented safeguards, including a new soft price floor for USDe and adjusted index weights for redemption pricing. The exchange also explained that extreme altcoin moves — such as ATOM’s momentary drop below $0.01 — were caused by years-old limit orders executing during thin liquidity.
Market Recovery
BNB rebounded 11.8% over the past day, and the GM30 crypto index rose 6.8%. Binance said it is still reviewing additional user cases for compensation.
