Binance offers compensation after $19bn crypto crash that crippled centralised exchanges, boosted DeFi
The crypto market was thrown into chaos Friday after US President Donald Trump threatened to impose 100% tariffs on China and new export controls on software. In a market already stretched by heavy leverage, the announcement led to one of the biggest selloffs in years.
The selloff snowballed into a $19 billion wave of liquidations as overleveraged bets were wiped out in hours. In what was called “the largest liquidation event in crypto history,” CoinGlass data showed more than 1.6 million traders were liquidated in 24 hours, with $7 billion flushed in a single hour.
Bitcoin price, which had reached an all-time high of $125,000 earlier this week, plunged 16%, falling below $105,000 briefly. It recovered on Saturday to…
