Binance Covers $283 Million Loss

According to breaking news, Binance will cover the $283 million loss incurred due to the depeg of BNSOL, WBETH, and USDE.

In its statement, the exchange reported that global macroeconomic developments from 23:50 on October 10, 2025, to 01:00 on October 11 (UTC+3) led to extreme volatility in the crypto market.

Both institutional and individual investors began selling heavily during this period, causing a sharp decline in the markets.

Binance announced that its futures and spot matching engines, as well as API transactions, were operating smoothly during this period. The volatility was largely market-related, but some modules experienced brief technical glitches after 00:18, leading to instability in certain assets.

The exchange confirmed its commitment to transparency, stating that users affected by the depeg were compensated within 24 hours.

As part of its user-focused approach, Binance undertook two main measures:

1. Earn Products Depeg Compensation: Due to the depeg of certain Earn products, including USDE, BNSOL, and WBETH, users whose collateral was liquidated were fully compensated for their losses, totaling approximately $283 million and distributed in two phases.
2. Internal Transfer and Earning Delays: Compensation will also be extended to users who experienced losses due to short-term delays in transfer and withdrawal during times of extreme market volatility.

Additionally, the exchange explained the excessively low prices seen in some spot pairs. Limit orders from 2019 were triggered during the oversold wave, causing temporary price drops. A visual zero price error occurred in some pairs (e.g., IOTX/USDT) due to the user interface but did not impact transaction data.

> This is not investment advice.