Binance Said to Raise Rebate Incentives for Some Market Makers After Theft

November 3 — Bloomberg reported, citing people familiar with the matter, that after an approximately $6.3 billion theft incident, Binance has contacted smaller market makers and raised their rebate incentives in the spot and futures markets. During a one-week promotion, tier-2 and tier-3 market makers will receive the same rebate rates as the highest-level tier-4 market makers, aiming to incentivize smaller liquidity providers to quote and maintain deeper order books. A Binance spokesperson said, "Just as we value clear communication, we are taking immediate steps to safeguard our core strength: liquidity."