BNB, the native token of Binance’s ecosystem, climbed to a record high of $1,355 following a turbulent weekend that saw $20 billion wiped from the broader crypto market.

Data from CryptoSlate showed that BNB surged 17% in 24 hours, outperforming other top-ten cryptocurrencies by market capitalization.

The rally came even amid President Donald Trump’s Oct. 10 tariffs on China triggered panic selling across risk assets, including digital currencies. Bitcoin has failed to offer similar strength, sitting $10,000 below its recent all-time high.

So, BNB’s strong price recovery reflected renewed confidence in Binance’s ecosystem despite the exchange’s recent operational issues.

Binance pays $283 million in compensation

Over the weekend, Binance faced strong criticism for its platform’s handling of the extreme price swings that disrupted trading activity.

Many of the exchange users complained of flash crashes that drove several tokens to near-zero levels and frozen accounts that prevented them from closing or hedging their market positions.

These disruptions intensified frustration among traders, who argued that Binance’s dominant position in global trading volume meant it should have been more resilient to market turbulence.

In response, Binance announced it had distributed $283 million in compensation to users affected by severe price dislocations across several products, including USDE, BNSOL, and wBETH.

The exchange attributed the losses to intense volatility and temporary failures in its collateral and pricing modules.

Binance said it reimbursed affected users and pledged to extend redress for

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Author: Oluwapelumi Adejumo