@DeItaone
 
*TRUMP: DONT WORRY ABOUT CHINA, IT WILL ALL BE FINE

@lookonchain
 
ogle (@cryptogle), advisor of @worldlibertyfi, deposited 1M $USDC into #Hyperliquid 6 hours ago and opened a 20x long on 125.7 $BTC($14.3M) — now sitting on an unrealized profit of $262K.
 
After the market rebound, he also opened a 3x long on 850K $ASTER($1.25M).
 
https://hypurrscan.io/address/0xe9d [...] e70bee43a5
 

X Solana (@solana)
It was, indeed, a Big Week. Markets in mayhem, crying in the casino, and buddies learned Chinese.
 
But the lion does not concern himself with anything other than shipping – and Solana’s ecosystem shipped this week like never before.
 
Here's everything that happened
 
Headline news:
 
- Ecosystem entities addressed how they dealt with crypto’s largest liquidation event ever, including Anza, Temporal, Helius, Triton, Titan Exchange, DFlow, Drift, Kamino, DeFiTuna, and Carrot
 
- @Sorare partnered with the NBA, MLB, and other major leagues, is migrating 5 million players to Solana by October end for enhanced speed and liquidity
 
- @UmbraPrivacy's ownership coin raise on @MetaDAOProject received $155M committed
 
- @Hivemapper raised $32 million and launched a $19/month camera subscription
 
- @AxiomExchange hit $300M in revenue in just 263 days, the fastest startup to do so in recorded history
 
- 58 days until @SolanaConf - are you registered?
 
Launches:
 
- @america_dot_fun went live, enabling projects to launch with USD1, partnered with @bonk_fun, @worldlibertyfi, @trendsdotfun, and @RaydiumProtocol
 
 Milestones:
 
- TVL hit an all-time high of $42.4 billion
 
- Stablecoin supply peaked over $16 billion for the first time
 
- USDG supply up $400 million since June, now higher than all other networks

@NateGeraci
 
Looks like a prolonged government shutdown would definitely impact the launch of new spot crypto ETFs...
 
ETF Cryptober might be on hold for a bit.
 
From SEC's "Operations Plan Under a Lapse in Appropriations & Government Shutdown"...
 

X Michael Saylor (@saylor)
Don’t Stop ₿elievin’  

X Deep Whale (@DeepWhale_)
TOP 10 des plus grosses positions actuellement ouvertes sur Hyperliquid.  

@ElonTrades
The Oct 11 Crypto Crash — What Really Happened
 
TL;DR:
 
Roughly $60–90M of $USDe was dumped on Binance, along with $wBETH and $BNSOL, exploiting a pricing flaw that valued collateral using Binance’s own order-book data instead of external oracles.
 
That localized depeg triggered $500M–$1B in forced liquidations, cascaded into $19B+ globally, and earned the attackers about $192M via $1.1B in BTC/ETH shorts opened on Hyperliquid hours earlier, but minutes before Trump tariff announcement.
 
It wasn’t a USDe failure!! It was Binance’s design flaw, timed with macro panic (Trump’s tariffs) for cover.
 
What looked like chaos was actually a coordinated exploitation of Binance’s internal pricing system, amplified by a macro shock and systemic leverage.
 
1️⃣ The Setup
 
Binance’s Unified Account let traders use assets like USDe, wBETH, and BNSOL as collateral.
 
Instead of oracle or redemption prices, Binance valued these using its own spot market - a major vulnerability.
 
On Oct 6, Binance announced a fix to move to oracle-based pricing, but rollout wasn’t until Oct 14, leaving an 8-day window.
 
2️⃣ The Exploit
 
During that window, sophisticated actors manipulated Binance’s order books, dumping ~$60–90M of USDe, driving it to $0.65 on Binance only (still ~$1 elsewhere).
 
Because the Unified Account marked collateral to internal prices, this instantly wiped margin value and triggered $500M–$1B in forced liquidations.
 
Then, Trump’s 100% China tariff headline hit, magnifying panic and liquidity stress.
 
3️⃣ The Profit Engine
 
The same day, fresh wallets on Hyperliquid opened $1.1B in BTC/ETH shorts, funded by $110M USDC from Arbitrum-linked sources.
 
As the Binance cascade unfolded, BTC and ETH cratered, those shorts netted $192M in profit before closing out at the bottom.
 
Timing, precision, and funding paths all suggest coordination.
 
4️⃣ The Contagion
 
Binance liquidations dumped BTC/ETH/ALTs into thin books.
 
Other exchanges mirrored the collapse through cross-market bots.
 
Market makers hedged across venues were forced to unwind everywhere.
 
Result: $19B+ global liquidations, with many alts down 50–70% intraday, all triggered by <$100M of manipulated collateral.
 
5️⃣ Who’s at fault?
 
Binance: design flaw + delay in oracle rollout = root cause.
 
Exploiters: executed and timed the manipulation, profited via external shorts.
 
Ethena (USDe): not at fault - protocol stayed 1:1 collateralized, redemptions normal, peg held everywhere else.
 
6️⃣ Aftermath
 
Binance admitted “platform-related issues,” promised compensation for affected margin/futures/loan users, and rolled out minimum price floors + oracle integration.
 
USDe remained operational, and the incident is now a case study in how exchange-side pricing errors can trigger system-wide liquidations.
 
Bottom line:
A ~$90M dump on Binance and a $1.1B leveraged short elsewhere sparked a $19B bloodbath.
 
Not a stablecoin failure, but a masterclass in exploiting flawed collateral valuation during peak macro stress.

X The Wolf Of All Streets (@scottmelker)
TRUMP SAYS CHINA TARIFFS ARE STILL THE PLAN FOR NOV. 1