Binance offers compensation after $19bn crypto crash that crippled centralised exchanges, boosted DeFi – DL News
- Crypto sellout triggered record $19bn liquidations and chaos across exchanges.
- Binance pledges payouts after system failures during market crash.
- DeFi protocols shined under pressure, processing record volumes without disruption.
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…
