San Zhao.eth 🚀

focused for Blockchain Validator, Miner, Tester, Investor, Crypto Trader and Dapps Developer | Sahara #0220306

[San Zhao.eth 🚀 @SandiNovians]

@coinfoin_ @m0 Ada simulasi Point Saturn buat S1 bang?

[San Zhao.eth 🚀 @SandiNovians]

@Official1stGame @1st.game please can your check DM?

[San Zhao.eth 🚀 @SandiNovians]

@Kikabetcom @kikabet check your DM

[Xeffy @Xeffy_io]

Xeffy's Community MiniApp has launched! 🚀

Join us: https://t.co/hmAJIkcSfD

Access the Xeffy app, become an early contributor, and contribute to RWA mass adoption!

Early participants and contributors will be provided with our ecosystem token $Xef 🎁

Mark June 2026 on your calendars!👀🪂

Invite your friends and earn points by using the app!

[San Zhao.eth 🚀 @SandiNovians]

@solsticefdn Solstice SCAM

[Selena Wulan🦄 @celleoreo]

Anjirrr pentani kita lebih cerdas 👏👏

Public speaking nya bagus .. bapak ini wawasan juga bagus bangett

[San Zhao.eth 🚀 @SandiNovians]

@opposite_lolo @Sniffing_Lead @RidhaIntifadha @TheEconomist SBY lebih parah dek, Masalah Internalnya banyak dari Tsunami Aceh 2004 dan Krisis Keuangan Global 2008 ditambah Lumpur Lapindo

[San Zhao.eth 🚀 @SandiNovians]

@cprkrn @MTSlive Congratulations bro 👍

[Boediantar4 @Boediantar4]

DANA PENDIDIKAN DIPOTONG 47,5% BUAT MBG
LALU MBG MASUK KE LAPAS DAN RUTAN, BINAAN DAPAT GAJI

SEBENARNYA MBG PROGRAM APA SIH??
KOK PENDIDIKAN BANGSA DIKORBANKAN???
😡😡😡😡😡😱😱😱

[San Zhao.eth 🚀 @SandiNovians]

@cz_binance HBD Bro 🎂

[Felipe Fernández @Felogolero]

A Indonesia le sacaron el mundial sub 20 cuando un gobernador se negó a aceptar a la selección de Israel.

Acá tenemos al presidente del país organizador amenazando directamente a un país clasificado.

Veremos que inventa Infantino para explicar esto.

[Tanyarlfes @tanyarlfes]

💚 ribuan anak SD, SMP, dan SMA Papua demo tolak MBG. keren guys anak anak sekecil mereka aja berani demo.

[San Zhao.eth 🚀 @SandiNovians]

@tether cetak dollar modal dengkul 😝

[San Zhao.eth 🚀 @SandiNovians]

@aarummanis Terimakasih sudah speakup kak @aarummanis , karena kakak korban-korban lain berani speakup juga sampai akhiranya pelaku mengakui kesalahannya, menunggu itikad baik dari pelaku untuk meminta maaf ke korban korban yang lain juga

[San Zhao.eth 🚀 @SandiNovians]

@skyholicc88 Ini yang bikin orang telat exit, kasian pengikut yg udah bayar kelas nya wkowkowkok 🤣

[San Zhao.eth 🚀 @SandiNovians]

@josephMuztich Like this?

[Bayriku ベイリク @buywle]

Kadang heran sama Suli, gw ga sepinter suli, tapi apa yg dia lihat sampe dia bulish mulu ke BTC, dulu katanya BTC bakal ke $150K sebelum akhir 2025 tapi nyatanya ngga 😒 gw sendiri cuma lihat siklus BTC, WMA, & EMA, lihat price action udah tau kalau BTC bakal turun.

Kasian member nya woi 😵

[San Zhao.eth 🚀 @SandiNovians]

@TalonXBT Rus D rockepler gak di sebut kah 😂

[Star_OKX @star_okx]

No complexity. No accident.
10/10 was caused by irresponsible marketing campaigns by certain companies.

On October 10, tens of billions of dollars were liquidated. As CEO of OKX, we observed clearly that the crypto market’s microstructure fundamentally changed after that day.

Many industry participants believe the damage was more severe than the FTX collapse. Since then, there has been extensive discussion about why it happened and how to prevent a recurrence. The root causes are not difficult to identify.

⸻

What actually happened
1.Binance launched a temporary user-acquisition campaign offering 12% APY on USDe, while allowing USDe to be used as collateral with the same treatment as USDT and USDC, and without effective limits.
2.USDe is a tokenized hedge fund product.
Ethena raises capital via a so-called “stablecoin,” deploys it into index arbitrage and algorithmic trading strategies, and tokenizes the resulting fund. The token can then be deposited on exchanges to earn yield.
3.USDe is fundamentally different from products such as
BlackRock BUIDL and Franklin Templeton BENJI, which are tokenized money market funds with low-risk profiles.
USDe, by contrast, embeds hedge-fund-level risk. This difference is structural, not cosmetic.
4.Binance users were encouraged to convert USDT and USDC into USDe to earn attractive yields, without sufficient emphasis on the underlying risks. From a user’s perspective, trading with USDe appeared no different from trading with traditional stablecoins—while the actual risk profile was materially higher.
5.Risk escalated further as users:
•converted USDT/USDC into USDe,
•used USDe as collateral to borrow USDT,
•converted the borrowed USDT back into USDe,
•and repeated the cycle.
This leverage loop produced artificial APYs of 24%, 36%, and even 70%+, widely perceived as “low risk” simply because they were offered by a major platform. Systemic risk accumulated rapidly across the global crypto market.
https://t.co/IK2gW4xUOP that point, even a small market shock was sufficient to trigger a collapse.
When volatility hit, USDe depegged quickly. Cascading liquidations followed, and weaknesses in risk management around assets such as WETH and BNSOL further amplified the crash. Some tokens briefly traded near zero.
The damage to global users and companies—including OKX customers—was severe, and recovery will take time.

⸻

Why this matters

I am discussing the root cause, not assigning blame or launching an attack on Binance. Speaking openly about systemic risks is sometimes uncomfortable, but it is necessary if the industry is to mature responsibly.

I expect there may be significant misinformation and coordinated FUD directed at OKX in the near future. Even so, speaking honestly about systemic risk is the right thing to do—and we will continue to do so.

As the largest global platform, Binance has outsized influence—and corresponding responsibility—as an industry leader. Long-term trust in crypto cannot be built on short-term yield games, excessive leverage, or marketing practices that obscure risk.

The industry needs leaders who prioritize market stability, transparency, and responsible innovation—not a winner-take-all mentality where criticism is treated as hostility.

Crypto is still early.
What we choose to normalize today will determine whether this industry earns lasting trust—or repeats the same mistakes again.

[baw @bawana31]

@Dospemz Nyawa aja ga dianggap, apalagi cuma perasaan. Gelap, makan tuh voters 02.