Binance Launches $400M “Together Initiative” to Support Users After Historic Liquidation 📊

Binance has rolled out a $400 million 'Together Initiative' intended to aid users hit by last week's crypto market crash.

It will issue $300 million in USDC vouchers (ranging $4-$6,000 each) to users who suffered forced liquidations between Oct. 10 and 11, provided the losses were at least $50 and represent at least 30% of their net assets as of Oct. 9.

An additional $100 million in low-interest loans will support institutional and ecosystem participants struggling with liquidity.

The compensation aims to restore user confidence after what Binance called one of the toughest weeks on record for the crypto sector.

💭 What are your thoughts on this?

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