Workflow
token vouchers
icon
Search documents
Binance launches $400M recovery fund to aid users hit by market crash
Yahoo Finance· 2025-10-14 18:45
Core Points - Binance has announced a $300 million initiative in token vouchers and a $100 million loan program to assist users who experienced liquidation losses during a recent market downturn [1][2][4] Group 1: User Support Initiatives - Binance will distribute $300 million in token vouchers to eligible users who suffered forced liquidation losses on Futures and Margin trading between October 10 and October 11, with voucher amounts ranging from $4 to $6,000 [2][6] - To qualify for the token vouchers, users must have incurred forced liquidation losses of at least $50, which must represent at least 30% of their overall net assets based on a snapshot taken on October 9 [6] Group 2: Institutional Support Initiatives - Binance has introduced a $100 million low-interest loan program aimed at supporting institutional clients and ecosystem participants affected by recent market volatility, with the goal of easing liquidity constraints and stabilizing partners [4] - Eligible VIP and institutional clients can apply for the loan program through their dedicated account managers [4] Group 3: Market Context - The announcement follows a significant downturn in the cryptocurrency market, described by Binance as one of the toughest weeks in recent memory, which has negatively impacted user confidence [2] - The market crash on October 11 was exacerbated by external factors, including political announcements, leading to major outages across several crypto exchanges, including Binance [7]