💸 In #Binance , users were compensated $283,000,000

During the cryptocurrency market crash, some assets on Binance temporarily lost their peg (depeg), and users faced technical failures and delays in transferring and redeeming funds from Earn products.

As a result, the exchange fully reimbursed the losses related to the loss of peg and promised to cover the losses of users affected by the delays.

Binance noted that the loss of asset peg occurred after the market crash, and was not the cause of it.