Binance Distributes ¥45.5 Billion in Relief Funds to Users Affected by Massive Liquidations

On the 15th, cryptocurrency exchange Binance announced the official launch of its $400 million industry support program, the 'Together Initiative'. This program aims to assist users and institutional investors impacted by the market crash following President Trump's announcement of additional tariffs on Chinese imports last Saturday. According to CoinGlass data, about $20 billion (approximately 3 trillion yen) in positions vanished within 24 hours of Mr. Trump's announcement of imposing a 100% additional tariff on imported goods from China. Approximately 1.7 million traders were liquidated, marking this as the largest liquidation event in the history of cryptocurrency. Binance will...