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Tom Lee: Stablecoin Flash Crash Triggered Cascading Liquidations, Sending Bitcoin Into a Tailspin After October 10In a CNBC interview on November 21, Bitmine Chairman Tom Lee addressed the key question of "what exactly happened on October 10". He explained that a stablecoin on one exchange suddenly dropped to $0.65 due to an internal pricing issue, triggering the ADL auto-deleveraging mechanism and causing cascading liquidations that forced millions of accounts to close within minutes. Lee noted that the in ...