đš BREAKING NEWS: Binance CEO Richard Teng Promises Compensation After Market âDepegâ Chaos
In a dramatic turn of events, Binance CEO Richard Teng has announced that Binance will compensate affected users who lost funds during last nightâs extreme market volatility, which caused several key assets to âdepegâ from their expected values.
In his public apology, Teng stated:
> âIâm truly sorry to everyone who was impacted. We donât make excuses â we listen closely, learn from what happened, and are committed to doing better.â
He clarified that reimbursements will be limited to losses caused by Binance-related issues, and will not cover general market losses or unrealized profits.
The incident affected multiple tokens, including:
USDe â a stablecoin that briefly lost its dollar peg
BNSOL â Binanceâs Solana liquid staking token
WBETH â Wrapped Beacon ETH staking token
Each token saw sharp deviations in price before partially recovering.
This move marks Binanceâs latest effort to restore user confidence after months of regulatory challenges and past controversies.