Binance Announces $400 Million Recovery Plan After Historic Crypto Crash
The “Together Initiative” comes after nearly $19 billion in trading positions were wiped out during a market crash on October 10.
Binance launched a $400 million support program on October 14, 2025, to help users recover from the worst liquidation event in cryptocurrency history.
The crash happened when President Donald Trump announced 100% tariffs on Chinese imports. Bitcoin dropped from approximately $122,000 to below $110,000 in hours, with some reports showing it briefly touched lows near $102,000-$105,000. Other cryptocurrencies fell even harder, with Ethereum, XRP, and Solana declining 15-30%.
What Caused the Crash
Trump’s tariff announcement triggered panic across financial markets. In the crypto world, the situation got worse…
