In brief
- Binance unveiled the “Together Initiative,” setting aside another $400 million to reimburse users affected by recent crypto liquidations.
- Other partners in the BNB ecosystem have added another $328 million to help affected traders of meme coins and more on BNB Chain.
- BNB hit a new all-time high on Monday, but is down around 4.4% in the last 24 hours.
Crypto exchange Binance is injecting another $400 million back into the hands of users following the record-breaking $19 billion of liquidations that rocked crypto markets last week, sending prices of top assets plunging.
The exchange and other BNB ecosystem firms have now earmarked more than $700 million in compensation for affected users as a result of the recent liquidations, after already committing a separate $283 million to reimbursements.
“Talk is cheap,” posted Binance co-founder and former CEO Changpeng “CZ” Zhao on X. “$283 million compensation on Binance,…
