Geethapranay

Ruby | Rust | Solana | ML engineer

[Geethapranay @Geetha_pranay]

@theaanuragg @ok_e12 @vagxrth @kirat_tw @paarugsethi I tried my best while submitting the assignment, so I have no regrets. I learned many things from it.

[Geethapranay @Geetha_pranay]

@KushChaudharyOg Congrats kush🚀

[Geethapranay @Geetha_pranay]

🫡@corbits_dev

[Geethapranay @Geetha_pranay]

Lfg🚀

[ANURAG @theaanuragg]

We ship always best

[ANURAG @theaanuragg]

Our launchpad https://t.co/qc6XiNzN7P is currently being flagged by Phantom Wallet, and we’re looking to connect with someone either at Phantom or via Bluefin to help us get it verified. Would appreciate any guidance or a point of contact to resolve this smoothly.
@solana_devs

[onlyfounders.fun @RaiseOnchain]

The Launchpad for First-Time Builders

Your First Cheque. Your First Supporters. Your First Proof of Progress.

Welcome to the Internet Capital Markets — the new foundation for founder-led fundraising.

#OnlyFounders

[Kush Chaudhary⚡ @KushChaudharyOg]

Generated 100+ cool addresses for @ofdotfun founder @Geetha_Pranay.

[onlyfounders.fun @RaiseOnchain]

Dear algorithm,

Please show this post to everyone who aligns with OnlyFounders, those who move with proof, purpose, and persistence.

We are building a list. Not of users, but of builders.

Thank you.

[Geethapranay @Geetha_pranay]

@theaanuragg @LoveYouAllNFT @TrustWallet Yes, exactly i just exported to phantom. I don't know what's happening with @TrustWallet. But in phantom i can see it.

[Geethapranay @Geetha_pranay]

I never thought binance would use their own price data instead of oracles for collateral.
That small mistake ended up crashing the whole crypto market.

[ElonTrades @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.

[Geethapranay @Geetha_pranay]

@KushChaudharyOg This one’s actually soo good ngl 😮‍💨

[Geethapranay @Geetha_pranay]

@KushChaudharyOg @rhul_am @praptichilling @solanaturbine Hahaha

[Geethapranay @Geetha_pranay]

LFG 🚀 @onlyfoundersxyz

[Symmetry @symmetry_xyz]

We are excited to announce our 1st Shipyard: Solana Accelerator Thailand cohort powered by @solana @superteam @symmetry_xyz!

Let's take a look at what they will be building inside our cohort 👇🏻

@robot_motion: a data layer to help train humanoid robotic 🤖

@ChillchatGames: a gamify raffle for luxury assets ⌚️

@captur_go: a decentralized location intelligence platform with data monetization 🚗

@PactdaOfficial: a trustless wagering for competitive mobile gaming in SEA 🎮

@MasterAstroNeko: a consumer application powered by horoscope to onboard mass users especially women 🔮

@Nerd3Lab: a new gen prediction platform ⚔️

Careva: a team of biology and physic Olympiad building biotech powered by web3 🧬

@onlyfoundersxyz: an internet capital market, unlocking potential of founders from underserved regions 🏛

These ideas are just the beginning to something greater

We look forward to work alongside these Thailand based team (with majority being Thai founders!) to help supercharge their journey on Solana Ecosystem

Bringing Thailand 🇹🇭 to Global 🌍

[Geethapranay @Geetha_pranay]

@ayushagarwal @dodopayments @convex @waynesutton 🤯 just a few hours back it was Sentra and now this… LFG 🚀🔥

[Geethapranay @Geetha_pranay]

Woah, this is very cool.

[Ayush Agarwal @ayushagarwal]

The future of monetization is here.
Introducing Sentra by @dodopayments.

Teams waste weeks wiring billing & payments - that’s not your product.

Sentra is a coding agent inside VS Code, Cursor, or Windsurf. It integrates subscriptions, usage-based billing, and one-time payments into your SaaS or AI app.

Don’t code. Just prompt.
Now in Alpha 👇

[Geethapranay @Geetha_pranay]

Can anyone suggest the best AI tool where I can upload a research paper and get the key points(very important) from it?

[Geethapranay @Geetha_pranay]

@garGoel91 @ycombinator You're 34? I never expected that.

[Geethapranay @Geetha_pranay]

@ayushagarwal @dodopayments Good to see you all enjoying and having a great time.

[Geethapranay @Geetha_pranay]

Better than most of the other websites to get clips from your long videos, if you didn't checkout, try out once. Happy to receive feedback.

[Kush Chaudhary⚡ @KushChaudharyOg]

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