Binance Issues $283 Million Pay Out After Synthetic Asset Depegging Incident

• Binance paid out $283 million after the USDe, BNSOL, and WBETH depegging that led to forced liquidations, covering user losses within 24 hours.
• Exchange adds redemption prices, soft floors to stabilize synthetic asset indices.
• Binance denies systemic flaw, says depeg followed market crash triggered by tariffs.

Binance has completed $283 million in compensation for users affected by forced liquidations tied to the temporary depegging of USDe, BNSOL, and WBETH. The exchange said the settlements were processed in two batches within 24 hours of the October 10 crypto flash crash – the day that saw $19 billion in liquidations, marking one of the largest sell-offs in crypto history.

According to Binance, the payout covers traders whose collateral values collapsed between 21:36 and 22:16 UTC, when synthetic assets briefly lost parity. Each claim was calculated by compari…

Read The Full Article Binance Issues $283 Million Pay Out After Synthetic Asset Depegging Incident On Coin Edition.