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People need to wake up.
This time it wasn’t “market volatility.” Binance’s system collapsed and caused mass liquidations and now they’re doing PR spins, blaming users, and paying KOLs to clean their mess.
How many of us lost everything while @cz_binance acts like we’re too dumb to notice?
This isn’t crypto anymore it’s a fiat extraction machine disguised as an exchange.
If you were liquidated during the downtime, speak up.
It’s time English, Spanish, Türkiye and Chinese communities unite Binance can’t silence everyone.
DID YOU NOTICE HOW @binance IS TRYING TO HIDE WHAT HAPPENED?
THEY EVEN STARTED TO AIRDROP SOME $BNB TO RANDOM USERS JUST TO HIDE THE CRIME THEY'VE DONE
HERE IS THE EXPLANATION WHAT HAPPENED:
A $60–90M dump of USDe, wBETH, and BNSOL on Binance exploited a pricing flaw that valued collateral using Binance’s own order book instead of external oracles.
That triggered $500M–$1B in forced liquidations on Binance, rippled into $19B+ across global markets, and netted the attackers $192M from $1.1B BTC/ETH shorts opened on Hyperliquid — right before the Trump tariff news dropped.
👉 It wasn’t a USDe failure.
👉 It was a Binance pricing flaw, perfectly timed with a macro shock.
⸻
1️⃣ The Setup
Binance’s Unified Account let users post USDe, wBETH, and BNSOL as collateral.
Instead of oracle-based or redemption prices, Binance used its own spot market prices — a critical vulnerability.
On Oct 6, Binance said it would switch to oracle pricing by Oct 14 — leaving an 8-day window wide open.
⸻
2️⃣ The Exploit
During that gap, a coordinated group dumped ~$60–90M of USDe, pushing it down to $0.65 on Binance only (still $1 elsewhere).
Because margin values were tied to those internal prices, this instantly nuked collateral value, triggering $500M–$1B in forced liquidations.
Minutes later, Trump’s 100% China tariff headline hit — adding panic fuel to the fire.
⸻
3️⃣ The Profit Engine
That same day, new wallets on Hyperliquid opened $1.1B in BTC/ETH shorts, funded by $110M USDC from Arbitrum-linked sources.
As Binance liquidations cascaded, BTC and ETH collapsed — and those shorts banked $192M in profit before closing.
Everything — timing, size, funding — screams coordination.
⸻
4️⃣ The Contagion
Binance’s liquidations spilled BTC, ETH, and alts into thin liquidity.
Cross-exchange bots mirrored the crash.
Market makers hedged across venues were forced to unwind globally.
Result: $19B+ in total liquidations.
Some alts dropped 50–70% in hours — all from < $100M of manipulated collateral.
CT: "Binance caused the liquidations"
Binance: "No we didn't"
CT: "Here is proof that you did"
Binance: "We are announcing a $400M recovery fund"
CT: "Binance has been extorting billions of dollars via listing fees"
Binance: "No we didn't"
CT: "Here is proof that you did"
Binance: "We are announcing that we charge listing fees to protect users and we will sue anyone who breaks their NDA with our listing team"
🚨 JUST IN: @BINANCE DELETES POST THREATENING LEGAL ACTION IN MASSIVE PR BLUNDER THAT SHOWED MANY INDUSTRY LEADERS CALLING OUT BINANCE’S PREDATORY LISTING REQUIREMENTS
BINANCE CHARGES 10% TOKEN ALLO + $2.25M IN DEPOSITS TO LIST TOKENS
REMOVE YOUR FUNDS FROM BINANCE
Hi CZ, we met in Taiwan a few years ago. You probably don't remember me or @JonEvansJones, but I'd like to start by saying I think what you have done for the industry is actually underappreciated.
But I also think the Binance listing process needs a bit of a makeover.
For example, I know you're a huge science geek and supporter. Yet, @SUPRA_Labs can't get listed even after talking to folks for years now -- we're literally one of the best, pioneering Web3 Computer Science teams in the world!
The proof is that we're accepted to many of the top computer science venues globally, such as the #1 in the world, ACM CCS 2025 (we've been accepted multiple times).
We have the fastest EVM parallel execution algo in the world , we have the most performant DAG design in the world (https://t.co/6Q0e0v8EfT) and also our Hydrangea Consensus algorithm is likewise the fastest of its type in the world (https://t.co/CjdMY5eLBX).
We were the 3rd Move Lang L1 to ever launch, but the Binance team listed another less technically skilled Move L2 (which now is a L1 apparently) over us, who have, to be frank, only the ability to fork technology... not make it... and it seems like their founders left the project.
As you can imagine, I'm just confused about the due diligence process, how that project could get listed but we couldn't.
Any pointers or suggestions?
We put a majority of our resources into pushing comp sci forward and continue to do so.
If the listing process is about merit, I assure you we have all the fundamentals. If it's about hype, well our DNA is more around proving our ideas than over exaggerating them for hype... but we'll work on that too.
Despite how I personally feel about CEX vs. DEX, which apparently is the same how you feel, our community without any surprises wants a Binance listing.
We'd love to continue to invest all we can to innovate Web3 and push the limits for our industry as a whole. Competition is good!
As a lover and supporter of the sciences too, I hope this message can be seen by folks in your orbit...
As a founder... I can resonate with some of the things being said regarding the listing process lately... Some of us just can't afford the ask though, especially since L1 projects like ours have block rewards that are required for long-term sustainability. The ask, fwiw, was more than founders own...
To my community, the truth remains, projects like ours need more liquidity and exposure, and Binance, like it or not, is still #1 in the world... I know this too.
To @cz_binance , I know you're not in charge of listings and such, but it would be cool if merit for core innovations (like being the best in the world in several protocol designs) could count for more in the decision-making process. In order for us to have innovated what we have... it requires a tremendous amount of focus, energy, and creativity (aka resources). We want to put our resources fully towards those objectives.
As a founder, you know projects need to keep as much of the limited resources they have to continue to give back to Web3, discovering what is possible for decentralized networks.
In short, we can't really afford the amount of tokens asked for from us either. And would love to see how we can move forward through our merits and contributions.
We are one of the most sincere and serious projects in the space. What we've been able to accomplish compared to competitors 4-8X better funded than us is remarkable.
Have a great day!