When Binance’s Market Took a Beating

In the recent flash crash that shook the crypto world, over $19 billion in leveraged positions were liquidated across exchanges—marking the largest single-day crash in crypto history.

More than 1.6 million traders were liquidated, with about 87% of those positions being long (i.e. betting on rising prices).

In response, Binance has pledged a $400 million “Together Initiative” to assist affected users—with $300 million in #MarketPullback USDC vouchers reserved for qualifying accounts.

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Many traders and holders faced severe losses. Some of the notable impacts and partial recoveries include:

Leverage traders holding long positions were among the hardest hit; their holdings were forcibly liquidated, wiping out large portions of capital.

Binance itself reimbursed affected users by approximately $283 million, covering collateral liquidations, transfer delays, and Earn-product losses.

Tokens like BNB actually defied the crash in part; BNB hit a new all-time high shortly after the incident, outperforming many other major tokens during the rebound.

Some altcoins plunged 20–50% within minutes—examples include ACT, DEXE, KAVA, and others.

While many traders are still recovering or rebuilding, Binance’s compensation program and token rebounds have helped mitigate some of the damage.

If you like, I can also prepare a full list of major coins’ losses versus recoveries ($BTC , $ETH , etc.) in advanced English, for your reference. Do you want me to send that?