Binance Launches Compensation Program for Users Who Suffered Losses During the Latest Major Crash

Following the recent sharp fluctuations in the cryptocurrency market, Binance announced a $400 million support plan called the “Together Initiative” to restore confidence in the sector and support its ￰0￱ program consists of two parts: a $300 million user fund and a $100 million institutional support ￰1￱ has set aside a fund of 300 million USDC for users who suffered losses due to forced liquidation in futures and margin trading between October 10–11, ￰2￱ who experience a liquidation loss equivalent to at least $50 during the specified period and whose loss constitutes at least 30% of their total assets will be eligible to receive token vouchers ranging from $4,000 to $6,000.

The exchange announced that the distribution process will begin within 24 hours and is targeted to be completed within 96 ￰3￱ will be able to track their rewards through the Rewards ￰4￱ News: BREAKING: FED Chairman Jerome Powell Makes Live Statements Binance has also established a $100 million low-interest loan fund for ecosystem partners and institutional ￰5￱ fund aims to help institutions severely affected by market volatility regain liquidity and return to trading ￰6￱ applications can be submitted through dedicated account managers for VIP and corporate ￰7￱ stated that applications will be responded to quickly and the entire process will be conducted ￰8￱ its official statement, the company stated that market conditions are challenging for both users and corporate actors, and included the following statements: “Our users will always remain our top priority throughout this ￰9￱ there will be differing opinions on every decision, we are taking this step based on our belief in the industry and our user-focused values.” Binance argued that the plan was not a legal compensation program, but a voluntary support step to restore trust in the ￰10￱ company reminded the community of investment risks, warning, “The market is volatile, manage your investments carefully and always do your own research.” *This is not investment ￰11￱ Reading: Binance Launches Compensation Program for Users Who Suffered Losses During the Latest Major Crash