Binance said it will deploy a $400 million support package, dubbed the “Together Initiative,” after a sharp market selloff and token price dislocations triggered forced liquidations on Oct. 10–11, aiming to steady user confidence and liquidity across the industry. The program comprises $300 million in USDC distributions to retail users who meet strict eligibility thresholds, and a $100 million low-interest loan fund for institutions. The announcement was published on Oct. 14.
Under the retail component, Binance plans to credit between $4 and $6,000 in USDC per eligible account, targeting users with forced-liquidation losses of at least $50 where losses equalled 30% or more of net assets measured against a snapshot at 23:59 UTC on Oct. 9. Binance said distributions are intended to start within 24 hours of the announcement and be completed within 96 hours, though delays are possible.
The loan facility will make $100 million available to ecosystem partners and institutional clients “severely impacted” by the volatility, with applications handled via account managers, according to the company. Binance framed the initiative as confidence-building support rather than an admission of liability.
The move follows a separate Oct. 11 remediation pledge tied to sharp depegs in three assets, USDE, BNSOL and wBETH, that contributed to user losses and platform liquidations. For affected users who held those assets as collateral, Binance said it would compensate the difference between their liquidation prices and the market price at 00:00 UTC on Oct. 11, and it outlined risk-control changes including adjustments to price index rules and more frequent parameter reviews.
The company’s response lands amid a turbulent fortnight for crypto markets. Bitcoin set a record above $125,000 on Oct. 5 before pulling back, and by Oct. 14 both bitcoin and ether fell as broader risk sentiment weakened. Analysts highlighted that the weekend crash saw a historic wave of liquidations across leveraged positions, amplifying price moves in altcoins.
For African users, and Ghanaians in particular, the development comes as interest in digital assets grows while local rules remain in flux. Ghana’s central bank has reiterated that cryptocurrencies are not legal tender and are not regulated under existing laws, urging the public to exercise caution. At the same time, Chainalysis estimates Sub-Saharan Africa’s on-chain value received rose roughly 52% year-over-year to about $200–205 billion in the year to June 2025, underscoring rising retail and CEX activity.
Binance said it expects disagreement over any response in a volatile market but cast the new funds as an investment in long-term industry health and user trust. Users who believe they fall outside the published eligibility scope for the earlier depeg incident can submit cases to customer support for review.
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