BREAKING UPDATE:
Binance CEO Richard Teng has pledged that the
company will compensate users affected by last night’s market turbulence, which triggered unexpected price deviations across several trading pairs.
In his official statement, Teng expressed regret over the incident, saying:
“To everyone who experienced losses, I sincerely apologize. We take full responsibility where it’s due — no excuses. Our goal is to learn, adapt, and improve.”
He emphasized that refunds will apply only to users who suffered losses caused directly by Binance-related issues, and not from general market volatility or unrealized profits.
Among the affected assets were USDe (a stablecoin), BNSOL (Binance’s Solana staking token), and WBETH (Wrapped Beacon ETH), all of which experienced significant “depeg” movements during the event.
This announcement aligns with Binance’s broader mission to rebuild trust and reinforce stability within the crypto community — especially as the platform continues to face global regulatory challenges and heightened scrutiny.
