Binance Co-CEO Richard Teng: A total of $600 million has been invested in user compensation and goodwill payments for the "10·11" incident.

Techub News reports that at the Consensus 2026 conference, Binance Co-CEO Richard Teng stated that in response to system challenges during the severe market volatility on October 10 last year, Binance has cumulatively invested $600 million for user compensation and goodwill payments. Approximately $300 million was allocated for direct compensation to users who incurred losses due to two isolated technical issues; another $300 million was designated as "We're in This Together Plan" goodwill compensation to share risks with severely affected retail investors. Richard Teng emphasized that currently, no other centralized or decentralized exchanges offer similar goodwill compensation. Additionally, institutional investors continue to increase their holdings, with institutional addresses collectively adding 43,000 Bitcoins in January. Binance is deepening its collaboration with Franklin Templeton, accepting its Benji tokenized money market fund as offshore collateral for institutional trading, and is extensively applying AI technology to business processes such as compliance, anti-fraud, and asset monitoring.