The crypto market saw chaos after Trump’s tariff threat on China. $19 billion in liquidations followed, with over 1.6 million traders affected. Bitcoin dropped 16% to $105,000 before recovering. Altcoins fell 30-80%. Binance faced disruptions and promised compensation for losses directly caused by system failures.

Amid the turmoil, centralised exchanges struggled while DeFi protocols thrived. Uniswap hit $10 billion in daily trading volume, Aave handled $180 million in collateral liquidations in an hour, with fees rising to $15 million. DeFi was stress-tested but worked flawlessly, proving resilience to market challenges.

Read more at Yahoo Finance: Binance offers compensation after $19bn crypto crash that crippled centralised exchanges, boosted DeFi