Binance has announced a $400 million program, dubbed the "Together Initiative," to support traders who were affected by the recent crypto market downturn on Friday, October 10 and 11, 2025. The initiative aims to restore confidence and liquidity within the cryptocurrency ecosystem following a significant market crash that saw $19 billion in liquidations.
The program will provide assistance to both retail users and institutional partners. A total of $300 million in USDC token vouchers will be distributed to eligible users who experienced forced liquidations on futures and margin positions between October 10 and October 11. These vouchers will range in value from $4,000 to $6,000. To qualify for this compensation, traders must have incurred liquidation losses of at least $50, with those losses representing a minimum of 30% of their total net assets, based on a snapshot taken on October 9, 2025. Binance anticipates that the distribution of these funds will begin within 24 hours and be completed within 96 hours. Users can track their rewards via the Rewards Hub.
In addition to the support for retail users, Binance is also establishing a $100 million low-interest loan fund for ecosystem partners and institutional users who were severely impacted by the market volatility. This fund is intended to help institutions regain liquidity and resume trading activities. Eligible VIP and corporate users can apply for these loans through their dedicated account managers, with Binance promising a quick response and strict confidentiality.
Binance clarified that while the exchange does not accept liability for user losses, the "Together Initiative" is a voluntary step designed to rebuild industry confidence. The company emphasized that its users are always its top priority and reminded the community of the risks associated with cryptocurrency investments, urging them to manage their investments carefully and conduct their own research.
The crypto market experienced a slump on Friday, triggered by factors such as U.S. President Donald Trump's threat of increased tariffs on Chinese imports. This event led to over $19 billion in leveraged positions being liquidated within 24 hours, marking the largest single liquidation event in crypto history. Bitcoin has partially recovered, trading at approximately $113,338, reflecting a 7% drop over the week. Despite the crash, Binance Coin (BNB) has demonstrated resilience, dropping only 5% over the week. BNB reached an all-time high of $1,369 on Monday before settling at $1,220, showing a 31% increase over the last month.
The "Together Initiative" is one of the largest exchange-led recovery efforts in recent history and underscores Binance's commitment to supporting its users and promoting stability within the cryptocurrency market.
