HTX Drops $100M USDT to Help Traders Who Lost Big in the $19B Crypto Wipeout (Again)

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In a move that may have traders scrambling for their wallets, crypto exchange HTX has decided to launch a $100 million USDT airdrop, presumably to help traders pick up the shattered pieces of their portfolios after the $19 billion market wipeout on October 11. It’s the kind of bailout that has all the excitement of watching someone else’s house burn down – but with a twist. This time, they’re handing out fire extinguishers. Sort of.

  • HTX is giving away $100 million in USDT to help traders recover from October 11’s glorious liquidation meltdown.
  • If you lost at least 100 USDT between October 9 and 11, you could claim up to 5,000 USDT in “futures coupons” (that’s a thing now, apparently).

In a not-so-surprising twist of events, HTX has rolled out the Sail Together initiative, which will sail through until November 15. This initiative promises to give crypto traders (regardless of platform or region – yes, it’s global, folks!) up to 5,000 USDT in loss-rebate airdrops. Because nothing says “we care” like handing out digital currency after a massive market wipeout.

But let’s pause for a moment and discuss the event that triggered this charitable act. On October 11, the crypto market faced one of its largest liquidation events, wiping out over $19 billion in leveraged positions in mere hours. Yes, you heard that right – a small nation’s GDP, gone in the blink of an eye. The spark for this disaster? Former U.S. President Donald Trump, who decided to accuse China of being “very hostile,” causing the market to panic like a squirrel in a car engine. The result? A trade war scare and global panic. Bitcoin, once hovering at $124,000, plunged down to around $104,000, making over 1.6 million traders wish they had never heard the word “leverage.”

Who’s Eligible for This Airdrop of Hope?

Well, if you’ve managed to lose at least 100 USDT between 4:00 p.m. UTC on October 9 and 3:59 p.m. UTC on October 11, then congratulations, you’re a potential beneficiary of HTX’s kindhearted airdrop. But wait, there’s more! You’ll also need to create an HTX account and get your Level 1 KYC verified before the event wraps up. So, if you’ve got a few ID photos just lying around, now might be the time to dust them off.

HTX will distribute futures coupon packages – ranging from a humble 50 USDT to a grandiose 5,000 USDT – depending on how badly you got burned. To prove you deserve this sweet deal, you’ll have to provide screenshots of your losses and show some activity on your HTX futures account after registering. Yes, it’s a bit like showing your math homework before getting the good stuff.

In case you’ve never heard of a futures coupon (which, let’s face it, you probably haven’t), it’s essentially a bonus or voucher that you can use to offset trading costs, cover losses, or serve as collateral for new trades. In other words, it’s the financial equivalent of getting store credit after your last purchase went horribly wrong.

HTX, ever so empathetic, promises to help traders recover their losses with “tangible incentives and genuine support.” They’re calling on others in the industry to jump on board, presumably because misery loves company. The goal? A healthier, more sustainable crypto sector. Yeah, we’ll see about that.

Binance Joins the Rescue Party with a $400M Support Package

HTX’s attempt to save the day comes hot on the heels of Binance’s announcement of a $400 million support package under its “Together Initiative.” It’s almost like they’re in a race to see who can hand out more money to their users after a market crash. Binance’s initiative is aimed at both retail and institutional clients who were affected by the liquidation event.

Binance has set aside $300 million in token vouchers for retail traders who lost over $50 on October 10 and 11, with those losses accounting for at least 30% of their total account value. The remaining $100 million will be dished out as low-interest loans to institutional clients who had the misfortune of getting caught up in the liquidation chaos.

So, if you lost big and are now desperately trying to get back on your feet, don’t worry – there’s a $100 million handout waiting for you! It’s like a digital band-aid, except it won’t stop the bleeding completely. But hey, it’s better than nothing. Probably.

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2025-10-20 11:34