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BREAKING NEWS:
Binance CEO Richard Teng ...
BREAKING NEWS:
Binance CEO Richard Teng has announced that Binance will compensate affected users who lost funds during last night’s extreme volatility, which caused several markets to “depeg.
In a public statement, Teng apologized: “I’m truly sorry to everyone who was impacted … We don’t make excuses — we listen closely, learn from what happened, and are committed to doing better.” He clarified that reimbursements will be considered only for losses due to Binance-caused issues, not losses from general market movements or unrealized profits.
The tokens affected included USDe (a stablecoin), BNSOL (Binance’s Solana liquid staking token), and WBETH (Wrapped Beacon ETH staking token), each seeing sharp deviations from their expected pegs.
This comes amid a broader push by Binance to restore trust and stability following regulatory scrutiny and prior controversies.
Binance CEO Richard Teng has announced that Binance will compensate affected users who lost funds during last night’s extreme volatility, which caused several markets to “depeg.
In a public statement, Teng apologized: “I’m truly sorry to everyone who was impacted … We don’t make excuses — we listen closely, learn from what happened, and are committed to doing better.” He clarified that reimbursements will be considered only for losses due to Binance-caused issues, not losses from general market movements or unrealized profits.
The tokens affected included USDe (a stablecoin), BNSOL (Binance’s Solana liquid staking token), and WBETH (Wrapped Beacon ETH staking token), each seeing sharp deviations from their expected pegs.
This comes amid a broader push by Binance to restore trust and stability following regulatory scrutiny and prior controversies.
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