Binance announces $300M payout for October 10 historic crash liquidations
Binance has announced a $300 million compensation plan to assist traders who suffered forced liquidations during the sharp market downturn on October 10. The exchange said the move is part of its broader effort to restore user confidence after what it described as one of the toughest weeks for the cryptocurrency industry in recent memory. According to Binance’s official statement on October 14, the compensation will be distributed through token vouchers under a new relief campaign called the Together Initiative. The program is designed to support both retail and institutional users impacted by recent volatility, which Binance attributed to ongoing macroeconomic headwinds that have pressured digital asset prices and shaken market sentiment. While the company stressed that it does not accept liability for trading losses, it reaffirmed its commitment to the long-term stability and recovery of the crypto market. “Users are always our first priority. That is w...