In an official announcement, Binance stated that after reviewing the market, it has been confirmed that between 04:50 and 06:00 on October 11th, Binance's core futures and spot matching engines, as well as its API trading, maintained stable operation. However, after 05:18 on October 11th, some platform modules experienced brief lags, and some wealth management products experienced depegging due to volatile market conditions. Binance has initiated and completed compensation arrangements for users affected by the depegging. Regarding compensation arrangements for wealth management product depegging, it is important to clarify that the claim that the depegging triggered a market crash is untrue. Following the extreme market decline, the market reached its lowest point between 05:20 and 05:21 on October 11th. The extreme depegging of Binance's wealth management products (USDE, BNSOL, and WBETH) occurred after 05:36 on October 11th. Binance has decided to fully cover the losses incurred from the liquidation of contract, leveraged, and loan positions caused by the depegging of some wealth management products due to this extreme market situation. Compensation has been distributed in two batches, totaling approximately $283 million. Regarding compensation arrangements for delayed internal transfers and investment redemptions, during periods of significant market volatility, the exchange experienced brief delays in internal transfers and investment redemptions, resulting in delays in timely replenishment. Users who incurred actual losses as a result of this will be compensated accordingly based on the results of the review. Regarding ongoing review and transparent disclosure, the overall compensation total is still being calculated and processed. Extreme prices have occurred in some spot trading pairs for two reasons: first, unilateral liquidity triggered historical limit orders. The platform has years of historical limit orders. A large number of sell orders in extreme market conditions caused unilateral liquidity, triggering historical limit orders that pushed token prices to extremely low levels, creating a "price spike." Second, differences in price precision adjustments resulted in the reduction of the minimum price increment digit for some trading pairs, resulting in abnormal decimal display of the executed price, creating the illusion of "zero prices." Binance will optimize the display and correct the abnormal prices.
According to Forbes, US President Trump holds a significant amount of Bitcoin, estimated to be worth $870 million, making him one of the world's largest Bitcoin investors. Trump's investment remains hidden because he indirectly holds Bitcoin through his stake in Trump Media & Technology Group, which operates Truth Social. Although Trump Media & Technology Group generates less than $4 million in annual revenue, its market capitalization on the Nasdaq is in the billions, and earlier this year, the company also ventured into the cryptocurrency space. In May, the company raised $2.3 billion through heavy debt and the sale of overvalued stock. In July, it purchased an additional $2 billion worth of Bitcoin. The stock sale diluted Trump's stake in the company from 52% to 41%. Since Trump Media & Technology Group's significant investment in Bitcoin, its price has risen by approximately 6%. This leaves Trump with 41% of the estimated $2.1 billion in Bitcoin reserves, or a personal stake of approximately $870 million.
Microsoft Defender vulnerability could bypass authentication and upload malicious files
According to a post forwarded by 23pds, Chief Information Security Officer of SlowMist Technology, a vulnerability in Microsoft Defender could allow attackers to bypass authentication and upload malicious files. Serious vulnerabilities were discovered in the network communication between Microsoft Defender for Endpoint (DFE) and its cloud services. These vulnerabilities allow attackers who have compromised the system to bypass authentication, forge data, leak sensitive information, and even upload malicious files to investigation packages.
Tether CEO: USDT has remained stable during crypto market turmoil
Tether CEO Paolo Ardoino posted on the X platform that USDT performed stably during the crypto market flash crash. He said: "USDT is the best collateral for derivatives and margin trading. It has good liquidity and is market-proven. If you use low-liquidity tokens, some bananas, a horse, three olives, and a chewed bubble gum as collateral, then when the market is volatile, be prepared." Previously, Tether's CEO said that Bitcoin and gold will have a "longevity" longer than any other currency.
Michael Saylor once again released Bitcoin Tracker information on Platform X. Based on previous experience, Strategy typically discloses Bitcoin holdings data the day after he releases Bitcoin Tracker information.
In response to crypto influencer AB Kuai.Dong's feedback regarding the "Four meme" and Binance Wallet's premium internal trading page being flooded with cow-related memes over the past 24 hours, Binance Wallet responded that it is addressing the issue. It is reported that this afternoon, the official website blocked keywords such as "cow" and "Cowboy," but the "New Coin" page continues to be flooded with memes featuring the token icon, including photos of Cowboy himself and screenshots of his Twitter feed. This phenomenon has persisted all day, rendering the entire "New Coin" page inaccessible.
In response to a community user's suggestion that "Binance has an entire team that can verify the identities of BTC whales who publicly swapped ETH," CZ said, "I would never ask Binance to violate user privacy. I wouldn't ask it myself either. It would be best if third-party investigators used public blockchain data for this research, and they seem to be very good at it."
CZ posted on the X platform that many projects have market makers, but BNB does not. He is not aware of any of my affiliated entities buying or selling BNB in the past few days/weeks. BNB has builders and a community, and BNB is "deflationary."
Coral Finance (CORL) listed on Binance Alpha
According to the official Binance Alpha website, Coral Finance (CORL) has been listed. The contract address is: 0xfd9a3f94bec6b08711d90ff69cbba42fac96b45a.
OKX founder and CEO Star posted on the X platform that the entire crypto industry should take a moment to reflect on the real cause of the global market crash. Is it really just a tariff issue, or are there deeper structural issues at play?
Venus Labs plans to compensate verified users who suffered losses due to WBETH price decoupling
Venus Protocol stated in a post on the X platform that some Venus users were affected by the WBETH price decoupling during the market turmoil. Venus Labs will compensate verified users who suffered losses due to the WBETH decoupling issue that occurred between 21:36 and 22:16 (UTC) on October 10, 2025, through the protocol risk fund.
Guy Young, founder of Ethena Labs, wrote on the X platform: "Oracles attempt to identify two distinct scenarios: temporary secondary market price dislocation and permanent collateral impairment. The latter has never occurred with USDe and is much less likely for most assets, including USDe." While the DeFi money market has been criticized for USDe's peg to USDT, it believes this practice is reasonable because it avoids liquidations caused by temporary price imbalances. Ethena provides on-demand proof of reserves to a limited number of entities, some of which are also oracle providers, including Chaos Labs and Chainlink. During this week's market volatility, Ethena's minting and redemption functions remained operational. Major liquidity venues, such as Curve, Uniswap, and Fluid, experienced price dislocations. Over $9 billion in on-demand stablecoin collateral was immediately available for redemption, though only a small portion was actually utilized.
After the "10.11 flash crash", the crypto market has begun to recover some of its lost ground, but the full impact of the incident may take days or even weeks to fully manifest. Many industry insiders have expressed their views: 1. Edward Chin, CEO of crypto hedge fund Parataxis, said that he suspected that in the next few days or weeks, he would hear news of some funds being liquidated or market makers being hit hard. 2. Caroline Mauron, co-founder of Orbit Markets, pointed out that Bitcoin's next major support level is $100,000. A break below this level will mark the end of the bull market cycle of the past three years. 3. Vincent Liu, chief investment officer of Kronos Research, believes that the plunge was triggered by tariff concerns, but was fueled by excessive institutional leverage, highlighting the close connection between cryptocurrencies and the macroeconomy. (Wall Street Journal)
Analyst: Bitcoin retests golden cross, which may trigger a sharp rebound
According to Cointelegraph, cryptocurrency market analyst Mister Crypto stated that Bitcoin is retesting the "golden cross," a bullish technical pattern that historically precedes upward movements. A golden cross is a bullish trading signal when a short-term moving average (typically the 50-day moving average) crosses above a longer-term moving average (typically the 200-day moving average), signaling a shift from bearish to bullish market conditions and the potential for price increases. Currently, Bitcoin is hovering around $110,000, and if it can hold above this level, it could trigger another rally.
According to Token Unlocks data, tokens such as FTN, CONX, and ARB will see large-scale unlocking next week. Among them, Fasttoken (FTN) will unlock approximately 20 million tokens at 8:00 a.m. Beijing time on October 18, accounting for 2.04% of the current circulating supply and valued at approximately US$40.2 million; Connex (CONX) will unlock approximately 2.32 million tokens at 8:00 a.m. Beijing time on October 15, accounting for 3.00% of the current circulating supply and valued at approximately US$32 million; Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9:00 p.m. Beijing time on October 16, accounting for 1.99% of the current circulating supply and valued at approximately US$28.4 million; Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8:00 a.m. Beijing time on October 13, accounting for 3.04% of the current circulating supply and valued at approximately US$22.4 million. deBridge (DBR) will unlock approximately 605 million tokens at 8:00 AM Beijing time on October 17, accounting for 17.01% of the current circulating supply and valued at approximately US$16.6 million; Starknet (STRK) will unlock approximately 127 million tokens at 8:00 AM Beijing time on October 15, accounting for 5.64% of the current circulating supply and valued at approximately US$14.4 million; Sei (SEI) will unlock approximately 55.56 million tokens at 8:00 PM Beijing time on October 15, accounting for 1.15% of the current circulating supply and valued at approximately US$11.5 million.
The Bitcoin whale that high-profiled the ETH position shorted 1423 BTC again
A whale/institution deposited 3,000 ETH worth $12.15 million to Binance in the past 10 minutes.
A whale went long on Hyperliquid for 770 BTC at an opening price of $111,749.
Two addresses opened tens of millions of dollars worth of ETH, SOL, and BTC long positions
The total stablecoin supply has risen to an all-time high of $301.5 billion
