{"id":52426,"date":"2025-10-12T15:31:40","date_gmt":"2025-10-12T15:31:40","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=52426"},"modified":"2025-10-12T15:31:40","modified_gmt":"2025-10-12T15:31:40","slug":"binance-to-compensate-users-following-price-depeg-incident-details","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=52426","title":{"rendered":"Binance To Compensate Users Following Price Depeg Incident \u2014 Details"},"content":{"rendered":"
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Binance has announced its plans to compensate some users who lost funds<\/a> during the market-wide crash on Friday, October 10. The world\u2019s largest cryptocurrency exchange by trading volume acknowledged a price depeg incident, which led to forced liquidations for some traders.<\/p>\n

Affected Users To Receive Compensation In 3 Days: Binance<\/b><\/h2>\n

In an October 11 post<\/a> on the X platform, Binance co-founder and chief customer support officer Yi He confirmed that some users encountered issues with their transactions due to significant market fluctuations. While apologizing to customers, the exchange executive asked the affected customers to reach out to the customer service to lodge their complaints.<\/p>\n

After Friday\u2019s market bloodbath, some users took to the X platform to complain about the forced closure of their trade positions on the Binance exchange. According to the cryptocurrency exchange\u2019s explanation, these issues were caused by a price depeg involving Ethena\u2019s USDe, BNSOL, and WBETH, as the market fluctuated and users flooded the trading platform.<\/p>\n

Binance\u2019s He noted that account activity of each user will be reviewed individually before the compensation will be released accordingly. However, it was also stated that losses due to market fluctuations and unrealized profits are not eligible for compensation.<\/p>\n

He wrote on X:<\/p>\n

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The reason Binance is Binance is that we never shy away from problems. When we fall short, we take responsibility\u2014there are no excuses or justifications. We are committed to serving every user to the best of our ability, and we will manage what we are responsible for.<\/p>\n<\/blockquote>\n

Binance announced<\/a> on its website that the affected users will receive their compensation within 72 hours. This reimbursement will reportedly cover the difference between the liquidation price and market price at midnight on October 11.<\/p>\n

Trump Slaps China With 100% Tariff, Crypto Market Crashes<\/b><\/h2>\n

As already mentioned, the Binance issue came up due to severe fluctuations in the cryptocurrency market. This increased volatility came after United States President Donald Trump declared plans to impose 100% tariffs on all Chinese goods by November 1.<\/p>\n

\"Binance\"<\/p>\n

As a result of this decision, Bitcoin, the largest cryptocurrency by market cap, witnessed a swift crash to around $101,500<\/a>. Meanwhile, the crypto market recorded nearly $20 billion in long liquidations\u2014the largest single-day liquidation event in history\u2014following the declaration.<\/p>\n

As of this writing, the price of Bitcoin is hovering around the $111,000 mark, reflecting an almost 10% decline in the past seven days.<\/p>\n

\"Binance\"<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Binance has announced its plans to compensate some users who lost funds during the market-wide crash on Friday, October 10. The world\u2019s largest cryptocurrency exchange by trading volume acknowledged a price depeg incident, which led to forced liquidations for some traders. Affected Users To Receive Compensation In 3 Days: Binance In an October 11 post […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-52426","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/52426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52426"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/52426\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}