Tag: Binance

Binance Rolls Out $400M Program for Traders Hit by Friday’s Downturn

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Binance is launching a $400 million relief program for traders affected by losses across its ecosystem during Friday’s crypto sell-off, despite saying it does not accept liability for user losses. According to a Tuesday post by the exchange, the initiative will distribute $300 million worth of token vouchers, ranging in value from $4 to $6,000, to eligible users. To qualify, traders must have incurred forced liquidations on futures or margin positions between Oct. 10, 2025, 00:00 UTC and Oct. 11, 2025, 23:59 UTC. Users must have lost at least $50…

Matrixport-Linked Wallets Pull 4,000 Bitcoin From Binance Within 20 Hours – Details

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Bitcoin continues to trade with high volatility following Friday’s brutal crash that sent prices as low as $103,000. Over the weekend, the market has struggled to find a clear direction, with bulls and bears locked in a tense battle around the $115,000 level. Sentiment remains divided — some analysts expect a consolidation phase before another leg higher, while others warn of a deeper correction if selling pressure intensifies. Related Reading Adding to the uncertainty, new data from on-chain analytics firm Lookonchain has revealed massive withdrawals by wallets linked to Matrixport,…

Binance to Distribute $300M to Crypto Traders Rekt in Record Liquidations

Key Notes The exchange will distribute $300 million in vouchers to users who lost over $50 and 30% of assets during the crash. Bitcoin plummeted from $122,000 to $104,000 following Trump’s tariff announcement, triggering the largest liquidation in history. An additional $100 million low-interest loan fund targets institutional users facing severe liquidity pressures from the event. October 10 and 11 marked crypto history with the largest market crash measured by total liquidations, summing up to $19 billion erased from traders who got “rekt,” as different security guards failed, registering unprecedented…

Binance Eyes Korea Return as Gopax Review Advances

Key Notes The FIU has resumed the review of Binance’s Gopax acquisition after a two-year delay. Approval could allow Binance back into South Korea by the end of 2025. South Korean investors maintain a strong appetite for crypto. Binance, the world’s largest cryptocurrency exchange, is nearing its long-awaited return to the South Korean market. After a delay of more than two years, local authorities have resumed their review of Binance’s acquisition of domestic exchange Gopax. According to a report from Newsis, South Korea’s Financial Intelligence Unit (FIU) is currently assessing…

Crypto Exchange Binance Airdrops and Lists Native Asset of ‘Lending Super App’

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The largest crypto exchange platform in the world by trading volume has rolled out trading support for the native asset of a low-cap decentralized finance (DeFi) project. On Monday, Binance listed the decentralized lending and borrowing platform Euler (EUL) via its HODLer Airdrops program, which rewards BNB holders with select tokens based on historical snapshots of their balances. Euler bills itself as the “DeFi super app” and operates as a decentralized exchange (DEX) in addition to offering lending services. EUL is an ERC-20 token that can be used for governance, rewards…

Binance Wallet, Trust Wallet Hit With UI Lags Post-Crash

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Binance’s balance display issues persisted across some of its services following Friday’s market crash, with its self-custody product, Binance Wallet, still affected as of Monday. Binance Wallet took to X on Monday to report that the wallet was “temporarily experiencing lag” due to network congestion, which caused some users to be unable to view certain wallet data. “This information requires some buffering time to display. We are actively working on resolving this issue,” the post read. Binance also attributed similar display issues to pricing abnormalities affecting several altcoins on its…

Binance Wallet Faces Temporary Outage, Here’s What Happened

Key Notes For almost 3 hours, Binance users experienced difficulties viewing interactive event information. Binance founder Changpeng Zhao suggested that the system was under maintenance. BNB price has reclaimed its $1,300 level, post Donald Trump’s talk about tariffs. Leading cryptocurrency exchange Binance has faced congestion in its network, with many customers impacted by the outage. Binance Wallet confirmed on X that it is possible that some users may experience some difficulties in viewing interactive event information. This is due to a temporary system lag caused by network congestion. No User’s…

Crypto Crash Triggered By Binance Margin Exploit: Uphold Exec

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The Oct. 10–11 sell-off that erased an estimated ~$19–20 billion across crypto within 24 hours has ignited a fierce post-mortem over whether market structure—or malice—turned a macro shock into cascading liquidations. Crypto Crash Not Random? On X, Uphold’s head of research Dr. Martin Hiesboeck alleged the crash “is suspected to be a targeted attack that exploited a flaw in Binance’s Unified Account margin system,” arguing that collateral posted in assets such as USDe, wBETH and BnSOL “had liquidation prices based on Binance’s own volatile spot market, not reliable external data,”…

Binance Founder CZ Reportedly in Line for Trump Administration Pardon

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The Trump administration is reportedly “leaning toward a pardon” for Binance co-founder Changpeng “CZ” Zhao, who pleaded guilty to money laundering charges in 2024 and spent four months in prison. According to New York Post columnist and Fox correspondent Charles Gasparino, sources close to Zhao said that Trump insiders believe the case against CZ was “pretty weak, and certainly not something that merited a felony charge and jail time.” “Trump… is leaning toward a pardon (consider the source), which could set the stage for CZ’s return to the crypto exchange…

Binance Says Tokens Did Not Actually Lose 100% of Value in Market Crash

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Crypto exchange Binance issued an update to users after several tokens on the platform apparently crashed to $0 in the wake of Friday’s market meltdown, saying that the tokens did not actually crash, but showed a $0 price to users due to a “display issue.” Several altcoins appeared to crash to $0 on Binance during Friday’s market turmoil, including IoTeX (IOTX), Cosmos (ATOM), and Enjin (ENJ), despite the tokens staying well above $0 on other centralized crypto exchanges. The tokens did not actually lose 100% of their value on the…