Binance Announces $400M Initiative for Crypto Market Recovery

Key Points:

The crypto market experienced a historic crash on October 10-11, with $19 billion in liquidations, marking the largest event of its kind.
Bitcoin dropped from $122,000 to $104,000. Ethereum and other cryptocurrencies saw declines of 30% or more.
This event was triggered by geopolitical tensions, including President Trump's announcement of tariffs on Chinese imports.
Binance, heavily impacted by the liquidations, announced a recovery plan named "The $400 Million Together Initiative."
The plan includes $300 million in token vouchers for users who faced significant liquidation losses and a $100 million low-interest loan fund for institutional users.
The recovery initiative aims to alleviate liquidity pressures and support stable operations for ecosystem partners.
Market makers' withdrawal during the crisis exacerbated the liquidity issues, leading to a cascading sell-off.
Post-crash, crypto liquidations reached $624 million again as Bitcoin lost further price support.