Binance Offers Another $400M to Traders After Crypto Crash Triggers Record Liquidations
Binance is distributing an additional $400 million to users impacted by last week’s $19 billion in crypto market liquidations. Total compensation across the Binance and BNB ecosystem now exceeds $700 million, including a $283 million reimbursement and a $45 million recovery airdrop on BNB Chain and Four Meme. The new $400 million “Together Initiative” allocates $300 million for users who lost at least $50 during forced liquidations on October 10–11, with individual payments ranging from $4 to $6,000, paid in USDC based on loss severity. The remaining $100 million is set aside as low-interest support for ecosystem traders and institutional investors to help resume trading. Recent market turmoil included sharp asset price drops and depegging, affecting both Bitcoin and BNB. While Bitcoin fell below $106,000 before partially recovering to $113,338, BNB reached a new all-time high of $1,369 before settling at $1,220, up 31% over the past month. Compensation distributions are set to begin within 24 hours.
