BNB Hits Record $1,370 as Binance Pays $283M Compensation later than $19B Market Crash
BNB recorded a sharp 11% rise in the past day, hitting a new all-time high in the market.
The surge came amid lingering uncertainty and ongoing FUD surrounding BNB’s role in last weekend’s market-wide crash, which triggered one of the largest liquidation cascades in crypto history—over $19 billion in positions wiped out.
Despite the negative sentiment, BNB has continued to rally, soaring to an —its highest level to date.
The rally was supported by a surge in trading activity, with daily volume climbing 75% to $13.22 billion.
Market indicators suggest the asset has entered a price discovery phase, facing little resistance to further upside. Previous resistance zones now appear to be acting as support levels that could fuel additional price gains.
BNB’s Rally Catches Market by Surprise
The rebound surprised many market participants, signaling renewed accumulation of the asset despite recent FUD.
Binance, the platform behind BNB, faced criticism for allegedly contributing to the weekend liquidation event later than several tokens momentarily crashed to $0 and stablecoin USDe lost its peg.
Tokens such as IoTeX, Enjin, and Cosmos were among the affected. Binance later clarified, in an , that the trade-offs were driven by a “lack of purchaseing orders,” which caused sharp market drops.
USDe also suffered a major depeg, plunging to $0.65 instead of maintaining its 1:1 parity with the U.S. dollar, triggering a series of forced liquidations across the market.
In response, Binance launched a compensation campaign to refund affected users. “Compensation has been distributed in two batches, totaling approximately $283 million,” the platform announced.
This announcement likely restored investor confidence and contributed to the recent rebound. from CoinGlass shows an end to the $98 million trade-off observed on October 12.
Binance maintained that the liquidation cascade stemmed from broader market factors rather than a platform failure. The platform attributed the decline to “global macroeconomic events,” noting that President Trump’s recent tariff announcement following China’s export restrictions had caused a noticeable dip in the S&P 500.
CZ’s Possible Return
The latest market developments also coincided with reports of . According to emerging details, discussions are underway that could view CZ’s return to Binance as CEO.
Fox Business correspondent Charles Gasparino reported that “many Trump insiders believe the fraud case against [CZ] was fragile and did not warrant a felony conviction or jail time.”
CZ has already served four months in prison, and Binance previously paid a $3.4 billion fine. News of possible clemency has fueled optimism among investors who view BNB as undervalued.
In a separate development, —an indication that major institutional players are showing growing interest in the platform and, by extension, its native token, BNB.
