Explaining the Bitcoin Crash: What Are Liquidations and Leverage?► https://t.co/8UQrzhgbd6 https://t.co/8UQrzhgbd6 ...

🚨 CMC News: Market Crash Lacks Long-Term Impact Despite $20B Liquidations🔗 https://t.co/dt2pSLNYPn https://t.co/BGvPKNX9q5 ...

Incident Overview - Approximately $60-90 million of $USDe was dumped on Binance, alongside $wBETH and $BNSOL, exploiting a pricing flaw [1][3] - This localized depeg triggered $500 million - $1 billion in forced liquidations, cascading into over $19 billion globally [2] - Attackers profited about $192 million via $1.1 billion in BTC/ETH shorts opened on Hyperliquid [2][4] Root Cause Analysis - Binance's Unified Account valued collateral using its own spot market instead of external oracles, creating a major vulnerability [3] - Binance announced a fix to move to oracle-based pricing on Oct 6, but the rollout wasn't until Oct 14, leaving an 8-day window for exploitation [3] - A coordinated manipulation of Binance's order books, amplified by a macro shock (Trump's tariffs) and systemic leverage, caused the crash [2] Responsibility and Aftermath - Binance's design flaw and delay in oracle rollout were the root cause of the incident [5] - Binance admitted "platform-related issues," promised compensation, and rolled out minimum price floors + oracle integration [6] - Ethena (USDe) was not at fault, as the protocol remained 1:1 collateralized, redemptions were normal, and the peg held everywhere else [6]

Yi He refuted three types of FUD related to recent market volatility: (1) Claims of a Binance outage — core futures, spot engines, and API remained stable throughout, with forced liquidations at a low, normal ratio, indicating the sell-off was market-driven; (2) Claims that depegs caused the crash — price declines preceded the depegs, and Binance has since compensated affected users with over $283 million within 24 hours; (3) Claims of liquidation via extreme price wicks — Binance uses a mark price mechanis ...

There’s all sorts of numbers being thrown around now.$400M for one fund, speculation on another market maker blowing up. Binance already paid nearly $300M back today.There will be more losses paid out and funds winding down. The big names like Wintermute and Paradigm likely took big hits but will survive.Over $20B in leveraged positions were liquidated in the last 72 hours, mostly longs.This isn’t just retail panic.It’s big desks and structured funds are getting forced out. The classic cascade when you borr ...

BoDoggos team marked safe from liquidations.- Nick, forgot he had a short open from January that finally was in the profit.- Pio, has only been buying stocks, notably open door, iren, and cipher, his spot bitcoin bags are tucked away on a trezor somewhere undisclosed- Clemente, already poor, can’t get much worse- Myself, I am 100% exposed to prediction markets which are denominated in stable coins, pure luck.Collectively we are down 0.42%.There is no second best.IcoBeast.eth🦇🔊 (@beast_ico):Think a pretty go ...

One thing I’ve always loved about NFT lending on sites like GondiYour loans can’t be calledNo liquidationsIt’s still a form of leverage but much more peace of mind and more controlburga (@0xburga):Total Liquidations on @gondixyz since yesterday: 0Yes, 0.Time-based liquidations is a feature. Maturities are spread across weeks or months.Can some loans default over the next few days? Yes, of course. But in all those situations, borrowers had time to adjust and even ...

Bitcoin, Ethereum, Dogecoin Down Bad Amid Record $19 Billion in Crypto Liquidations► https://t.co/HrW8807mTM https://t.co/HrW8807mTM ...

👇Quinten | 048.eth (@QuintenFrancois):Covid crash: $1.2B in liquidationsFTX crash: $1.6B in liquidationsToday: $19.31B in liquidationsYou wished you bought during the COVID crash.This is your COVID crash. https://t.co/OnmNY7e86s ...

binance api throttling captured 5% of actual liquidations during the crash. coinglass estimates $300-400b liquidated versus $19-40b reported. every liquidation heatmap leverage ratio and risk metric from binance is off by 10-20x. your position sizing models are using fantasy data from an exchange that controls 90% of perp open interest. ...