Binance Increases Compensation for Customers Liquidated in Crypto Selloff

Amid growing criticism about its role in crypto’s biggest crash, Binance said it will distribute an additional $300 million in stablecoins to exchange users who incurred forced liquidations and provide $100 million in low-interest loans to help “severely impacted” institutions resume trading.

The “Together Initiative” comes two days after the world’s largest cryptocurrency exchange acknowledged “technical issues” that contributed to losses during the Oct. 10 selloff and paid about $283 million in compensation to affected users.