Following a tumultuous trading session that saw billions of dollars wiped out in cryptocurrency markets, Binance has pledged to compensate users who suffered verifiable losses directly linked to the exchange’s technical malfunctions. The chaos was driven by a massive liquidation wave and record trading volumes, leading to delays and system strain across various products including staking and stablecoins. Binance acknowledges responsibility for these issues, with CEO Richard Teng promising to learn from this incident to strengthen its systems and prevent future occurrences. Affected users will be able to access compensation for losses attributed to the exchange’s own technical failures rather than market fluctuations. The exchange is prioritizing cases involving depegged assets like USDe, BNSOL, and WBETH as part of their review process. Binance’s native token, BNB, also saw a significant dip during the turmoil. However, it remains one of the largest non-stablecoin assets by market capitalization.