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> binance announces an issue with stablecoin pricing feed
> literally says when they'll fix it (in the future), allowing room for anyone to exploit it
> someone (or binance themselves do it) exploits
> biggest crash ever in crypto
> multiple coins go to 0
> entirety of retail gets destroyed
> binance probably made billions and billions with it
"while others attack competitors" funny to say this when CZ and Binance have been actively attacking Hyperliquid while this whole thing happened is prob their fault
I am never speaking about binance again and will never have a single dollar there starting today, that's for sure
Despite the unprecedented price action, we’re happy to confirm that Kamino users incurred a total of $0 bad debt, and that the liquidation engine performed exactly as expected.
Kamino’s risk and liquidation systems are designed to weather the worst. Though it’s a silver lining amongst the pain, we’re proud that Kamino was able, and continues to keep users safe.
In-depth liquidation report to follow. Stay safe, degens.
Over the last hour, Solana's network demonstrated resilience under extreme demand:
- Raw transactions spiked to 6-10k per second
- Utilization reached up near 60 CUs per block
- Median transaction fees remained low
Grok, is there a fued between CZ of Binance and Solana?
@grok: Yes, there appears to be an ongoing feud between Changpeng Zhao (CZ), the founder of Binance, and Solana, primarily driven by competitive tensions between the BNB Chain and Solana ecosystems. This isn't a direct personal spat with Solana's leadership but rather a broader rivalry fueled by CZ's public comments, perceived market manipulations, and efforts to boost BNB at Solana's expense. The friction has roots in the 2022 FTX collapse but has intensified in 2025 amid meme coin dominance and market share battles.
Key Points of the Feud
Historical Context (2022 FTX Drama): The feud traces back to CZ's public criticism of FTX and its founder Sam Bankman-Fried (SBF), which contributed to FTX's downfall. Solana (SOL) was heavily backed by FTX, and CZ's actions led to massive SOL sell-offs by Binance, crashing its price. This created lasting resentment in the Solana community, with some viewing CZ's moves as targeted sabotage rather than risk management.
Recent Escalations (2025):Meme Coin Wars: Solana has dominated meme coin trading (e.g., via platforms like https://t.co/Pm88rtBpBm), but CZ has aggressively pushed BNB Chain as a rival. In early October 2025, CZ reacted to a post mocking BNB's lack of "innovative" memes compared to Solana, sparking community backlash. This led to cross-chain meme launches like $INNOVATIVE and $PVP, designed to troll the rivalry.
Allegations of Suppression: In August 2025, accusations surfaced that Binance (via market maker Wintermute) was deliberately suppressing SOL's price to prevent it from surpassing BNB's market cap (~$120B vs. ~$110B at the time). Binance's proof-of-reserves showed minimal SOL holdings, fueling conspiracy theories.
CZ's Direct Digs: During recent Spaces and posts, CZ implied Solana's hype was only possible because he was "distracted" by legal battles (e.g., his 2023 plea deal). He also proposed slashing BNB gas fees by 3-10x to "crush" Solana and Ethereum on cost-efficiency.
On October 7, 2025, CZ celebrated BNB Chain's meme surge, noting it now holds 11.4% of global meme activity closing in on Ethereum and eroding Solana's lead.
Community Beef: X (Twitter) is rife with posts calling it a "beef between ecosystems," with Solana users accusing CZ of "butthurt" over FTX's past support for SOL, and BNB fans mocking Solana's outages and rugs.
CZ's Broader Influence: Even from "prison" in 2024 (a low-security facility), CZ's X account followed Solana news accounts, hinting at ongoing interest. Post-release, he's pivoted to AI and meme incentives on BNB, like rewards for top memes, which some see as a direct counter to Solana's degen culture.
Is It One-Sided? Mostly from CZ's side—he's vocal about BNB's superiority—but Solana's community fires back hard, with memes and posts amplifying the divide. No outright lawsuits or cease-fires, but it's heating up as BNB gains ground (e.g., daily meme volumes rivaling Solana's). Healthy competition? Sure. Full-blown feud? Absolutely, per the crypto trenches.
All major L2s, including Arbitrum, Base & Optimism, have admin keys!
Controlled by a "security council" (multi-sig) CHOSEN by the L2... (permissioned authority)
The opposite of decentralization!
The admin key CAN steal all funds INSTANTLY by changing the smart contract's rules
The safest way to earn SOL and to stop your bags from melting away to inflation is to stake SOL natively
i.e without using an LST
because, not tax advice, but there are many regions where swapping from SOL to a SOL LST is a taxable event
Helius:
i) gives you top native yield
ii) does this without deliberately slowing down the network and shitting on the chain for everyone to farm a few bps (looking at you Kiln and a few others)
we are *strictly* IBRL aligned
iii) is one of only 2 Solana native teams in the Top 30 to fend off against giant corporations who could not care less
iv) has a bald founder
v) uses the stake to help Solana devs and builders
vi) has partnerships with many leading teams (Pengu and Doodle TGEs also airdropped to Helius stakers for example)