ComputingAI retweetet
ComputingAI
51.5K posts

ComputingAI
@loadingRLC
Blockchain developer. Artist. The Family Guy.
Romania Beigetreten Ocak 2022
490 Folgt568 Follower
ComputingAI retweetet

Exactly 6 months ago, one of the darkest chapters in crypto took place: the crash Binance triggered across the market:
10/10 2025.
While scammer and Trump pardoned @cz_binance talks about his divorce, I want to remind you what 10/10 was:
Here is a summary, an analysis, a reminder, and a warning.
Never forget.
Whoever has too much power is too dangerous.
🔺 1. What happened on 10/10:
On 10 October 2025 the crypto market suffered the largest single liquidation event in its history.
More than $19 billion (officially reported, with other estimates placing it well above $50B) in leveraged positions were wiped out within roughly 24 hours, and multiple reports put the number of affected trading accounts above 1.6 million.
Bitcoin had already printed a record high above $126000 on 6 October. By the 10 to 11 October window it crashed to a low of $104782.88. That was more than 14% below its Friday high of $122574.46.
This day is now remembered across the industry simply as 10/10.
The trigger in the headlines was clear:
▶️ Trump announced additional 100% tariffs on Chinese imports.
US China trade war reignited.
But the scale and structure of the crypto damage do not match a normal macro move alone.
They also exposed structural weaknesses in leverage, liquidity and exchange design. (Reuters)
🔺 2. Binance:
Before the crash Binance already sat at the center of crypto liquidity.
It handled around 40% of global spot trading volume in 2025, dominated depth across many altcoin markets, and ran a unified collateral system that linked spot, futures, margin and related products into one concentrated structure.
Kaiko has explicitly warned that too much trading depth and price discovery had become concentrated on Binance.
On 10/10 that concentration became a single point of systemic failure. (Binance)
🔺 3. The Binance specific anomalies:
CoinDesk Data, Kaiko and Binance’s own notices documented how 3 Binance linked collateral assets behaved during the meltdown window:
▶️ USDe. synthetic dollar
Binance price: as low as $0.65
Outside Binance: much higher, with Bybit around $0.92 and on chain venues staying close to peg
▶️ wBETH. liquid staked ETH
Binance low: roughly $430 to $450
Broader ETH market: roughly $3436 to $3500
▶️ BNSOL. wrapped SOL
Binance low: about $35
Other venues: materially higher
And it did not stop there.
We saw also extreme Binance only dislocations in assets such as ATOM, ETHFI, SAND, SUSHI and ENS. ATOM, for example, traded at $0.001 on Binance while its composite reference stayed far higher at $2.87.
When 1 venue prints collateral values that are 35%, 80%, 90% or more away from broader markets, that is not price discovery.
That is venue failure.
🔺 4. The liquidation cascade and ADL:
10/10 created the largest liquidation cascade in crypto history.
More than $50 billion wiped out.
20 times larger than the previous single day record.
40 times larger than the March 2020 meltdown and the FTX collapse.
And the mechanics got uglier from there.
Insights4vc, CoinShares, Bankless and exchange reporting documented that:
▶️ Hyperliquid triggered ADL
▶️ It was Hyperliquid’s first cross margin ADL event in over 2 years
▶️ Binance also triggered ADL events
▶️ Even profitable shorts were force reduced on some venues
The chain is not hard to reconstruct:
Macro shock hit a market loaded with leverage.
Order books thinned out.
Market makers stepped back.
Forced selling accelerated.
Then Binance specific collateral dislocations in USDe, wBETH and BNSOL intensified the damage for users relying on those assets as collateral.
It was leverage meeting fragile market structure in the worst possible way. (Reuters)
🔺 5. On chain and off chain fingerprints:
Whale wallet "0xb317..", documented in market coverage after the crash:
▶️ Made about $192 million shorting the collapse
▶️ Opened another $163 million BTC short afterwards
▶️ Its timing was so precise that it triggered immediate insider trading suspicions across the market
At the same time, Binance publicly acknowledged depegs in USDe, wBETH and BNSOL, apologized to affected users, and paid compensation.
That matters.
Because once an exchange itself confirms venue specific depegs in collateral assets during the biggest liquidation event in crypto history, the structure is already condemning itself.
The data is enough to indict the structure itself.
🔺 6. Collapse of Fake Liquidity:
Many altcoins that “crashed to zero” on Binance did not collapse that way on composite rates or external venues.
Why?
Because displayed depth is not the same thing as resilient liquidity.
CoinDesk Data showed that of the 428 assets trading on Binance that day, 127 dropped 75% or more and 22 plunged more than 90%. In several cases, trades printed at levels wildly detached from composite reference prices.
Binance itself later pointed to stale historical orders and one sided liquidity as part of the explanation.
That tells you everything.
A market can look deep in calm conditions and still prove hollow under stress.
Artificial depth, internalized flow, stale orders, thin real bids, and market makers pulling back at the same time all produce the same result:
The book looks solid until stress hits.
Then it vanishes.
How does a major asset print near zero in minutes?
Simple.
Because visible liquidity is not the same as real liquidity when the system is under pressure.
🔺 7. Comparison with fair, regulated markets:
In regulated U.S. equity markets like Nasdaq, market makers are subject to continuous 2 sided quote obligations.
Wash trades are prohibited under federal securities law and FINRA rules.
And if quoting obligations are not met, there is surveillance, enforcement and regulatory scrutiny.
On 10/10 crypto had none of that.
▶️ Binance order books experienced severe buy side vacuums
▶️ Liquidity evaporated under stress
▶️ No external regulator stood above the venue
▶️ No independent market structure guardrails existed
A dislocation of this scale in a regulated market would trigger immediate scrutiny.
On Binance it was simply another reminder that the house, the venue, the collateral logic and the risk engine can all sit in the same structure.
It is a casino run by the house.
🔺 8. Binance’s regulatory vacuum and conflict of incentives:
On 10/10:
Longs were liquidated.
Shorts were ADL’d at insane prices.
Delta neutral strategies were damaged.
Positions were closed at prices wildly detached from broader markets.
Even professional, hedged traders became collateral damage.
And that is the real issue.
In a lightly regulated offshore market structure, the venue can sit at the center of listing power, collateral design, liquidation logic, matching, risk engine design and market data influence all at once.
In a system generating tens of millions per day in fees, the incentive to preserve growth is obvious.
The incentive to accept hard external constraints is not.
🔺 9. Public request for Binance to provide evidence:
We have demanded Binance release a minimal platform level proof package for the 10/10 event:
Pricing / Mark Price / Bands
Mark price every second + algorithm version
Index components & clipping logs
Full price band data
Liquidation / ADL
Liquidation & ADL volume per second
Queue length
Resource allocation
Engine versioning and parameter changes
Insurance Fund
Balance + transaction logs
Capital injections
Bad debt handling
Matching neutrality
Proof of no proprietary net selling
Proprietary delta & market making delta summaries
Operations
Parameter freeze logs
Code version hashes
Latency, error rate, availability metrics
Binance has provided none of this.
Binance has provided none of this.
Binance has provided none of this.
The more silence,
the clearer the truth becomes.
🔺 10. Why “never forget” matters:
A single exchange can distort global prices in minutes.
Oracle and index flaws can vaporize billions.
Fake or fragile liquidity collapses under stress.
Unified margin amplifies failure.
Insiders and well positioned traders thrive while retail is destroyed.
A regulatory vacuum enables abuse at scale.
Macro lit the match.
Crypto’s leverage did the rest.
And Binance sat at the center of the system when it broke.
🔺 11. The message
When people say:
“Teams control their tokens.”
“Bring data or shush.”
The answer is simple:
The data is here.
The on chain traces are here.
The venue specific dislocations are here.
The collateral failures are here.
The near zero prints are here.
The ADL events are here.
The compensation notices are here.
The structural conflicts are here.
The $19 billion liquidation number is confirmed.
Remember what Binance did to us on 10/10.
Never forget: in crypto, concentrated power is not innovation.
It is systemic fragility with better marketing.
Whoever sits at that choke point is always too dangerous.
Binance can continue operating this way and even more aggressively under a Trump administration that has already shown willingness to protect them, defend them, or even issue pardons.
The only thing that can truly change the situation is people removing their funds from centralized platforms and taking away the power these entities currently hold.
Power is liquidity and only users can decide whether they keep feeding it.
Right now, every major decision being made in the space feels questionable at best.
Thanks for reading.
by $MASTR crypto project
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#Bitcoin
the weekly RSI has broke out of its downtrend📢
what does it mean? 💡
➡️Good sign, but not bottom ✅
➡️Triggers the Final phase of Bear market.⏳
➡️The Final phase Explained:
-one final drop, a hard one.
-higher RSI low to build a macro divergence
-then the entire trend shift, and the next #bullmarket starts.
-Exact bottom can be anywhere between 60k and 40k.
What to do?
-Smart money DCA $btc hard in the final phase instead of trying to catch the exact #btc bottom.

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We should be cause is about 135 tech years away from us@
GIF
Binance@binance
we’re already worrying about 2029 now?
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Ploaia-mi-ai-n gura para malaiata!
g4media.ro/de-ce-vremea-m…
Indonesia
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The laughingstock of the world @realDonaldTrump
1 of the biggest scammers and extractors in the space, a destroyer of worlds and a wannabe dictator, is promoting Bitcoin. It could hardly get any worse.
English
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By eliminating gains
Man's a genius
Chris@itsCblast
🚨Trump: We're on track to fully eliminate capital gains tax in 2026
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