Despite stating that it does not accept responsibility for user losses, Binance will launch a $400 million relief plan aimed at helping traders who suffered losses in the ecosystem during Friday's cryptocurrency sell-off.
According to an announcement released by the exchange on Tuesday, the plan will distribute $300 million worth of token vouchers to eligible users, with values ranging from $4 to $6,000.
To qualify, traders must have incurred losses due to forced liquidations of futures or margin positions between October 10, 2025, 00:00 UTC, and October 11, 2025, 23:59 UTC. Users must have lost at least $50 in cryptocurrency, and these losses must account for at least 30% of their total net assets, based on a snapshot taken on October 9, 2025, at 23:59 UTC. Industry experts expect the distribution to be completed within 96 hours.
"The plan will also establish a $100 million 'low-interest loan fund' specifically to assist ecosystem and institutional users affected by market turmoil, aimed at 'alleviating liquidity pressure.'"
Binance has made it clear that the exchange does not "accept responsibility for user losses," emphasizing that this move is intended to "restore industry confidence."
This initiative follows the announcement by BNB Chain on Monday of a $45 million "reboot airdrop," aimed at compensating users who lost funds trading meme coins during Friday's market crash.
On Friday, the cryptocurrency market plummeted significantly after U.S. President Donald Trump threatened to impose a 100% tariff on Chinese imports, leading to over $19 billion in leveraged positions being liquidated within 24 hours—marking the largest single-day liquidation event in cryptocurrency history.
In the aftermath of this event, Binance has faced criticism from multiple fronts.
Some traders reported experiencing technical failures during the sell-off, preventing them from closing positions, while others pointed out significant discrepancies in stablecoin pricing.
Due to oracle data issues, several altcoins, including Enjin (ENJ), Cosmos (ATOM), and IoTeX (IOTX), briefly showed prices of $0 on the exchange.
On Sunday, Binance released an official statement addressing these concerns, stating that its core futures system remained operational throughout the sell-off.
Since the market crash on Friday, Binance and BNB Chain have announced a total of $728 million in recovery measures, including a $45 million airdrop, $283 million in immediate compensation after the crash, and the newly launched $400 million industry fund.
Binance's announcement on Tuesday sparked mixed reactions on the X platform. Some users, like SeedliCapital, praised the exchange for taking action to rebuild "confidence," while others expressed harsher criticism.
In stark contrast, user Curb.sol pointed out, "Binance's mispriced internal price oracles directly led to $400 billion in liquidations and the subsequent market crash." He further emphasized, "Everyone needs to withdraw their funds from Binance immediately."
Other users felt that while the compensation plan is commendable, it falls far short of making up for the losses incurred over the weekend. LeveragedDegen stated, "While it's better than nothing, for those whose assets were completely wiped out, a $4,000 to $6,000 'voucher' is just a joke."
Related: Centralized exchanges (CEX) face allegations of underreporting massive liquidation data
Original article: “Binance launches $400 million program to help traders affected by Friday's market downturn”
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