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BREAKING NEWS: The CEO of Binance, Richard Teng ...
BREAKING NEWS:
The CEO of Binance, Richard Teng, has announced that Binance will compensate affected users who lost funds during the extreme volatility last night, which caused several markets to 'decouple'.
In a public statement, Teng apologized: “I sincerely regret everyone who was affected … We do not make excuses, we listen carefully, we learn from what happened, and we are committed to improving.” He clarified that reimbursements will only be considered for losses caused by issues related to Binance, not for losses due to general market movements or unrealized gains.
The affected tokens included USDe (a stablecoin), BNSOL (the liquid staking token of Binance's Solana) and WBETH (Wrapped Beacon ETH staking token), each experiencing significant deviations from their expected pegs.
This comes amid a broader effort by Binance to restore trust and stability following regulatory scrutiny and previous controversies.
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