Historic Crypto Crash Aftermath: Binance’s $400M Payout Plan to “Rekt” Traders
A surprise 100% tariff threat by Donald Trump triggered a crypto crash on Oct. 10–11, wiping out $19–20 billion in leveraged positions and liquidating over 1.6 million traders as Bitcoin plunged from $125,000 to $104,000. Binance suffered outages and de-pegged tokens, later reimbursing $283 million to affected users. Binance launched a $400 million recovery plan. Bitcoin has since rebounded above $111,000.