Many people don’t know this, but we pay a fee on every airplane ticket purchased that’s supposed to go directly to fund TSA.
But 10 years ago, Congress passed bipartisan legislation that diverted the security fee revenue into a general “slush fund”.
Everything is a scam. 😩
So when China launches a special
op to seize the president of Taiwan: or Russia tries to do the same for Zelensky - what exactly do we say? You can’t do that, it’s illegal?
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.
⭕️ | ALERTA TOTAL: El equipo que creó $LIBRA, la criptomoneda que promocionó Javier Milei, YA RETIRÓ 87 MILLONES DE DÓLARES DE LOS FONDOS DE LIQUIDEZ.
‼️ Estamos ante UNA DE LAS ESTAFAS MÁS GRANDES DE LA HISTORIA.
❌ En un país normal, ESTO ES CAUSAL DE JUICIO POLÍTICO.
Milei ayer:
- ¿Quiere comprar $LIBRA?
- ¿Qué es eso?
- Es dinero virtual, como dinero normal, solo que libertario.
- Bueno, si es libertario 🤷🏻♂️ deme 44 mil dólares, por favor...
6 horas después:
*No aceptamos Criptomoneda de Milei*
- ¡La concha de…! 😩
#MileiEstafador
El presidente de la Argentina confirmó a Bloomberg Línea a través de un mensaje de texto que “el proyecto es real” e implica “puro financiamiento privado” https://t.co/bbFqqzSyDj
1 - ¿Tiene ahorros en criptomonedas, Presidente?
2 - Si no estaba interiorizado en el proyecto, ¿por qué lo promocionó desde la cuenta presidencial?
3 - Si no tenía vinculación alguna, ¿por qué tardó tantas horas en borrar el tuit?
4 -¿Cuántos otros “supuestos emprendimientos privados” ha promocionado sin informarse antes?
5 -Si un político opositor hiciera lo mismo, ¿diría que es parte de la “casta” o lo defendería como un simple error?
Hace unas horas publiqué un tweet, como tantas otras infinitas veces, apoyando un supuesto emprendimiento privado del que obviamente no tengo vinculación alguna.
No estaba interiorizado de los pormenores del proyecto y luego de haberme interiorizado decidí no seguir dándole difusión (por eso he borrado el tweet).
A las ratas inmundas de la casta política que quieren aprovechar esta situación para hacer daño les quiero decir que todos los días confirman lo rastreros que son los políticos, y aumentan nuestra convicción de sacarlos a patadas en el culo.
VLLC!
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