Hassan Maishera
TL;DR
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Binance announced that it has paid $283 million in compensation to users of three assets that depegged on the exchange.
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The depeg occurred during Friday’s market crash.
Binance Compensates Users with $283M
Binance, the world’s leading crypto exchange by daily trading volume, announced that it had compensated users of three Binance Earn assets to the tune of $283 million. This latest development comes following Friday's volatility, resulting in the assets being depegged from their accurate prices.
The depeg occurred in three Binance Earn markets — Ethena's stablecoin USDe, Binance-issued Solana liquid staking token BNSOL, and Wrapped Beacon liquid staking token WBETH. The stablecoin USDe, intended to be pegged to $1, briefly fell below $0.66 on Binance.
The crypto exchange stated that the $283 million compensation was for futures, margin, and loan users who held USDE, BNSOL, or WBETH as collateral and were impacted between 21:36–22:16 UTC. It also covered users with verified losses from internal transfers/Earn redemptions.
While commenting on this latest development, Ethena Labs CEO and co-founder Guy Young, stated that,
"I do not think it is accurate to describe this as a USDe depeg when a single venue was out of line with the deepest pools of liquidity that experienced no abnormal price deviations whatsoever."
Binance also refuted rumors that an attack on the cryptocurrency exchange caused the depeg, which resulted in the broader market crash.
"The extreme market downturn occurred before the de-pegging," Binance's post states. "Records show that during the market sell-off, prices fell to their lowest point between 21:20 and 21:21 (UTC) on October 10, 2025, while the severe de-pegging occurred after 21:36 (UTC) on the same day," the crypto exchange added.
Binance also informed its users that it will make changes to the affected markets to ensure against future depegs. It will add the assets' redemption prices to the index weights to stabilize future wobbles and install a soft price floor in the reference index for USDe.
