Binance has announced the launch of its $400 million "Together Initiative," which combines up to $300 million in USD Coin (USDC) distributions for eligible users with a $100 million low-interest loan fund aimed at institutional recovery. This announcement was made through a press release.
The initiative comes in the wake of a significant sell-off, spurred by tariffs, that led to record crypto liquidations and affected market confidence. According to reports, between October 10–11, 2025, total crypto liquidations exceeded previous peaks as investors sought to hedge and deleverage amid thin liquidity. Bitcoin and ether experienced double-digit declines before partially rebounding, while altcoins were more severely impacted. The private-sector relief package is intended to stabilize counterparties and signal confidence without relying on public backstops—a strategy aligned with market-led recovery preferences often supported by right-leaning policy advocates.
Under the user-aid tranche, Binance plans to distribute up to $300 million in USDC, providing $4–$6,000 per eligible user based on loss severity and ratio. Eligibility includes forced-liquidation losses on Futures and Margin between October 10–11, 2025 (UTC), with a minimum $50 loss and at least a 30% loss ratio compared to an October 9 snapshot. Binance indicates that distributions will commence within approximately one day and aims for completion within about four days. Additionally, a separate $100 million low-interest loan pool is available to support institutional users resuming trading activities.
External data highlights the extent of the dislocation addressed by this plan. Reuters reported it as the "largest crypto liquidation in history," surpassing $19 billion across October 10–11, with bitcoin dropping over 14% at its lowest point and ether declining more than 12%. Derivatives markets witnessed an increase in protective put buying as funds reduced leverage and sought downside hedges. These figures help contextualize the scale of Binance’s $400 million response relative to market-wide losses and liquidity needs during periods of stress.
Founded in 2017 by Changpeng Zhao and Yi He, Binance is a globally recognized cryptocurrency exchange frequently ranked first by trading volume. The company offers spot trading, derivatives, and a variety of ecosystem services. As of 2025, Richard Teng serves as CEO. Public filings indicate that Binance operates without a traditional headquarters but has developed regional entities and compliance frameworks. Its scale, liquidity provision, and reach among retail and institutional clients position it as a critical market venue during periods of volatility and recovery efforts.