TLDR

Binance announced a $400 million relief program for traders who lost money during Friday’s crypto market crash, including $300 million in token vouchers and $100 million in low-interest loans
To qualify for vouchers ranging from $4 to $6,000, traders must have lost at least $50 in forced liquidations between October 10-11, representing at least 30% of their total assets
The crypto market crash on Friday October 10 saw over $19 billion in leveraged positions liquidated in 24 hours after President Trump threatened 100% tariffs on Chinese imports
Binance and BNB Chain have now pledged a combined $728 million in recovery measures, including this new program plus earlier compensation for stablecoin issues
The exchange maintains it does not accept liability for user losses and says the program aims to rebuild industry confidence

Binance unveiled a $400 million relief program on Tuesday for traders affected by losses during Friday’s crypto market sell-off. The initiative comes after the exchange faced criticism over technical issues and pricing problems during the crash.

Talk is cheap.

$283 million compensation on @Binance
$45 million recovery airdrop on @BNBChain and @four_meme_
Another $400 million recovery airdrop on @binance

Protect users. https://t.co/HZcff61Sv5

— CZ 🔶 BNB (@cz_binance) October 14, 2025

The program will distribute $300 million in token vouchers to eligible users. Voucher amounts will range from $4 to $6,000 per trader.

To qualify, users must have experienced forced liquidations on futures or margin positions between October 10, 2025 at 00:00 UTC and October 11, 2025 at 23:59 UTC. Traders must have lost at least $50 in crypto during this period.

The losses must also represent at least 30% of their total net assets. This calculation is based on a snapshot taken on October 9, 2025 at 23:59 UTC.

Binance expects to complete the voucher distribution within 96 hours. Recipients will receive funds through the exchange’s Rewards Hub.

The program also includes a $100 million low-interest loan fund. This fund targets ecosystem and institutional users impacted by the market turbulence.

The exchange said the loans aim to help users restart their trading activities. Binance stated the fund will alleviate liquidity pressures for ecosystem partners.

Market Crash Details

The crypto market crashed on Friday after President Donald Trump announced plans for 100% tariffs on Chinese imports. Over $19 billion in leveraged positions were liquidated within 24 hours.

Approximately 1.7 million traders faced liquidations according to Coinglass data. The event represents the largest single liquidation event in crypto history.

While better than nothing, a “voucher” for $4-6k on users who got wiped for everything is kinda a joke

— Leveraged Degen (@LeveragedDegen_) October 14, 2025

Binance faced criticism on multiple fronts following the crash. Some traders reported technical glitches that prevented them from closing positions during the sell-off.

Other users pointed to discrepancies in stablecoin pricing on the platform. Several altcoins including Enjin, Cosmos, and IoTeX temporarily showed prices of $0 on the exchange.

Combined Relief Efforts

Binance and BNB Chain have now announced a combined $728 million in recovery measures. This total includes the new $400 million program announced Tuesday.

BNB Chain previously launched a $45 million reload airdrop on Monday. That program compensates users who lost money trading memecoins during Friday’s crash.

Binance had also pledged $283 million in immediate post-crash compensation. This earlier compensation targeted holders of USDE, BNSOL, and WBETH tokens that depegged on the exchange.

Binance clarified that the relief program does not mean the exchange accepts liability for user losses. The company said the initiative is designed to rebuild industry confidence.

Reactions to the announcement have been mixed on social media. Some users praised the exchange for taking action to restore confidence.

Other users criticized the compensation as insufficient. One user called vouchers of $4 to $6,000 for traders who lost everything a joke.

Binance co-founder Yi He apologized to users on Saturday for the issues during the crash. The exchange published a statement Sunday saying its core futures systems continued operating normally throughout the sell-off.

The post Binance Pledges $400 Million to Help Traders Recover from Crypto Crash appeared first on CoinCentral.

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Filed under: News - @ October 15, 2025 5:27 am