'the LORD gave, and the LORD hath taken away; blessed be the name of the LORD' — Job 1:21
yesterday's liquidation event is the most brutal i've witnessed in my time in crypto
i got wiped out on ALL my perps positions
literally everything
eight figures: $30 million+ at peak uPnL if realized, or well above $15 million just before the liquidation started
100% of the following perps position got wiped:
- $BONK
- $FARTCOIN
- $POPCAT
- $PNUT
- $CAT
- $APEX
- etc
i lost maybe 80% of my $ASTER position that i used as a collateral on a DeFi lending protocol
i took out the remaining (~$1 million), fully liquidated it and rotated it into $BONK and $4 because i think i get better R/R from both from here on out:
- BONK because i refuse to be a 'bonk guy' without BONK exposure, and i remain convinced in my deca-billion-dollar target for it. i will continue to add more over time, God willing
- $4 because i remain strongly convinced that BNB season continues until the end of this quarter and i think $4 is the most asymmetrical bet to capitalize on that
thankfully the overwhelming majority of my $USELESS coin position is held in spot, so i didn't record significant loss on that — maybe with the exception of mid six figures worth of uPnL i had in perps accounts
i am still resolutely convinced that $USELESS is THE memecoin to watch for outperformance from here on out, that it is a multi-billion-dollar narrative currently trading for pennies on the dollar, and that it will end the cycle being a top 5 memecoin at the barest minimum i.e. certainly has a lot more than 10x upside from here. so i’m glad contagion there was contained for me!
what happened yesterday?
everyone blames the recent Trump-China tariffs, but this isn't the first time we've had that this year
and the Trump tariff comments certainly shouldn't have been responsible for such a massive nukage across almost the entirety of altcoins and memecoins in the space
a lot of altcoins crashed 70 to 99% in minutes, when $BTC and $ETH barely crashed 13%
$ATOM, for example, crashed from $4 to $0.001 on top exchanges like Binance — a 99.9% crash in minutes. no one could have humanly responded to that!
it is also worth noting that this massive altcoin/memecoin crash was EXCLUSIVELY on CEXs. these altcoins did not come close to hitting these levels on spot DEXs, so yesterday's liquidation was almost certainly due to MM/CEX liquidity issues
why it was unprecedented (market mechanics)
many people reported being massively affected, especially since exchange systems broke across the board: stop losses failed, orders didn’t fill, margin couldn’t be added, and platforms became unusable within minutes. the entire liquidation cascade happened so fast that almost no one had time to react, something i don’t think we’ve ever seen at this scale before
i was in front of my screen, took a short break, came back to the screen to see the nasty wick about 10 minutes later, then realized i've been liquidated on EVERYTHING i had in perps
it is the craziest crypto event i have witnessed, ever!
it was worse than COVID, which was a black swan event
you could say whatever you want about this event: you can call it manipulation, unnatural, or whatever else
you would be right tbh
however, whether or not manipulation played a role doesn’t change what i have to do next: as a trader, i am only ultimately concerned about things i can actually control
of course it's easier to point out how it all wasn't my fault and how someone else was responsible, but how does that help me grow as a trader? i win if i make money trading, i lose if i lose money trading. end of!
i'm sure we will be hearing more about exactly what happened yesterday night, which will hopefully help give some people closure
i wish i didn't have to write about this:
this will likely be one of the most viral tweets coming out of this event
many have waited for this moment: 'he is so greedy!'
and there will be an army of people mocking me with 'I TOLD YOU SOs'
but write i must, for a few reasons:
1. a key part of the 'bonk guy' persona and identity i have built is one of utmost transparency around my trades, so others can learn
2. while i lost a fortune in the liquidity wipe event, i have a very diversified basket of alts across perps and spot. i'll be fine; my spot assets are safe. but i think there are people who lost literally everything they have right now that might be having very bad and nasty thoughts, and them seeing a voice like mine at this time just might give them hope
i want to be very clear:
1. i do not need your empathy. i appreciate that some would have the thought, but i do not need people messaging me to empathize with me over this
2. i do not need donations or financial support. it was a massive loss, but i'm okay
i also want to emphasize that i'm in a very good mental state right now, as difficult as that might be for many to believe
i've always been very detached from money and material things, and that makes it easy to cope with situations like this
at the end of the day, my $BONK trade was a trade in which i went from $16k to a peak 8-figure PNL
contrary to what seems to be the most common belief here, it isn't my most impressive trade. if i made it before, i can make it once again!
could i have foreseen exchange systems crashing and nuking the most liquid altcoins and memecoins in the market 70 - 90% in mere minutes before anyone could react? no!
could i have maybe done a few things differently leading up to this event? maybe
however, i am a big believer in focusing on what *could* happen and taking action to get there instead of focusing on what *has* happened
the past is the past, and what has happened has happened
there are a lot of changes i’ll be making to my systems as a result of this: less dependence on leverage, sharper risk management, and a stronger focus on protecting my positions from exchange-side risks going forward
all that matters is what happens from here on out...
i remain very optimistic about the market
i do not believe the bull run is over, nor do i think the Q4 rally is out of the picture
so what do i do from here?
lock in more than ever before, be buried deeper in the trenches, and most importantly have fun while i do it!
if there is one thing i have learned after being in this industry for multiple cycles, it is that there is always new opportunities: every day, every week, every month
i have always been one to love a challenge, and i guess this is another one for me and an opportunity to once again prove myself — not to internet strangers, but to myself
this event has not dampened my spirit, not in the slightest. if anything, it has strengthened my resolve to get back in the ring, fight, and win bigger
i will make it all back, and more!
for those who are in a similar situation, who either lost a fortune or lost it all, i have some words for you:
PERSIST
SURVIVE
DON'T GIVE UP
if you need to take a break, please do
if you're struggling to hold it in, please seek help
above all, pay special attention to yourself and focus on your health
i know it will take a while for the gravity of what happened to hit many, but a philosophy that has always helped me to survive massive drawdowns is internalizing all of these crypto gains as just numbers on the screen — until it is realized at least!
i know they can have very real consequences in the real world if/when cashed out, but right now i think internalizing it as just numbers on the screen would make dealing with the loss more bearable
you made it before, so yes YOU can make it again
the most profitable period of the cycle is still well ahead of us
we are all going to make it
and you are going to have me along on this journey with you, if that matters to you!
if there’s one thing this taught me, it’s that no matter how prepared you think you are, you’re never fully protected from systemic shocks — but you can always control your response. i’ll be rebuilding my framework with that truth in mind!
i am once again an underdog, and this is not the end of my story
GOD WILLING
Hey everyone,
The last few days have been nothing short of surreal. Umbra’s ICO on MetaDAO was oversubscribed by more than 10425% crossing $78 million in committed capital at the time of writing this. That number is insane, and it stands as one of the strongest signals of trust and demand we could have ever hoped for.
After careful thought, we have decided to cap the raise at $3 million at a $8.55 million FDV
All funds beyond the $3 million cap will be returned on a pro rata basis through MetaDAO. Every supporter remains part of @UmbraPrivacy journey. No one is left out, and everyone stays aligned.
Umbra has never been about chasing valuations or hype; it’s about building something users need with purpose, integrity, and people we trust. This decision wasn’t made out of restraint, but out of reason. Three million gives us everything we need to execute our roadmap, fund audits, and grow the team sustainably. With @MetaDAOProject funding structure, taking on more capital often makes it harder, not easier to progress.
Our team’s unlock structure follows the same philosophy. The team unlocks 20% of its allocation each time Umbra’s FDV doubles from the ICO valuation, with unlocks beginning after 18 months regardless of market conditions.
This means every token allocated to the team is time & performance-bound, tied directly to product delivery, user growth, and measurable progress. There are no instant unlocks or shortcuts. We only win if we execute.
This raise puts us in the perfect position to deliver on what we set out to do: create privacy infrastructure that is usable, compliant, and built for the future of on-chain activity.
The oversubscription is a message that the world still cares deeply about privacy done right. Built on Arcium, accelerated by MetaDao and part of the Solana ecosystem, Umbra will work with the community to make that vision a reality.
Thank you for believing, supporting, and being part of this journey. The best is yet to come.
-Kru
Founder, Umbra
This is how the pumpfun KOL coins work:
KOLs have GCs where they communicate with each other, these are not the fnf TGs that you're invited to that they have in their bios, these are separate backdoor channels
They bundle (buy large % of supply from many wallets at a low MC, many apps help with this) and send each other coins for free, this is why there are periods where the whole TL seems to shill the same thing all at once, it's not random, it's coordinated
They then buy these coins on their main wallets, and they will hold them there to zero since they have several anon wallets they are doing their actual trading on. They can tell their followers they "lost money too" while they dump on their side wallets
Then they share in their fnf TG groups and Twitter to retail (that's you) It's at this point they generally start "farming," most of the time they will actually sell off all or most of their side wallets at this early step. Nobody believes in these coins less than the KOLs shilling them. This is where most coins die
However, if there is enough retail interest, the coin will continue to rise, many KOLs will be out at this point and move on to something else (or even try to vamp with a similar coin) The remaining KOLs will now send more coins out to higher tier influencers, KOLs with copytraders, and of course the bagworkers
Give it a little while and these people will always start undercutting each other and selling. It's easy for them to know if they are dumping on each other cause they can check the wallets that sent them the coins, this is why so many coins seem to have a random and violent end, at some point they all kinda dump at once
While this has become commonplace, make no mistake - if you are shilling a coin you received for free, asking people to take risk when you have taken none, then you are a scammer. But if you are going around shilling a pumpfun KOL coin that you paid your own money for, then you are a fool
The future of mapping is powered by Helium Mobile.
@Hivemapper’s new Bee Membership includes a Helium Mobile SIM so you can map while always staying connected.
Built and mapped by the people.
Only possible on @solana 🐝
Yesterday, $3M was raised in under an hour for one @MetaDAOProject.
The project, Umbra, is built on @arcium and brings encrypted and compliant privacy to Solana DeFi.
Here’s everything you need to know 🧵
— — —
► What is Umbra?
Umbra brings private transactions to Solana’s DeFi. It lets users send and swap tokens without exposing wallet details or amounts.
Built on Arcium’s encrypted compute, it keeps data private while preserving @Solana’s speed and composability.
Core Features:
➤ Confidential swaps and transfers
➤ Developer SDK
➤ Compliance-ready design
➤ DAO governance from day one
—
► How It Works
Umbra enables private transactions through encrypted execution on Arcium.
Workflow:
User → Encrypted Transaction → Verification → Settlement
➤ User: Starts a private transfer or swap.
➤ Encryption: Data stays hidden from start to finish.
➤ Verification: Arcium validates without revealing data.
➤ Settlement: Finalizes on Solana with full speed and composability.
—
► Roadmap
Umbra doesn’t call this a roadmap, but a build plan focused on tangible delivery. The team aims to ship core features within six months after the ICO.
Upcoming Milestones:
➤ Private Swaps: Privacy-preserving swaps inside the Umbra app.
➤ Umbra SDK: Integration tool for wallets and dApps to add on-chain privacy.
➤ Zcash–Solana Bridge: Unlocking $ZEC liquidity for Umbra’s privacy pools.
➤ Updated UI: Simpler interface for faster private transactions.
➤ Mainnet Launch: Aligned with Arcium Mainnet Alpha.
—
► Token Sale
Umbra’s ICO runs on MetaDAO’s futarchy model until October 10, linking market outcomes directly to governance.
Key Details:
▸ Platform: MetaDAO
▸ Target: $750K
▸ Raised: $8.3M+ (1109% of target)
▸ Price: $0.075
▸ Token Supply:
• 10M ICO
• 5M liquidity (2M paired with 20% of funds)
• 13.5M team and backers (performance-based unlocks)
▸ Governance: All liquidity, funds, and mint authority transfer to the DAO after the sale.
—
► Wrap Up
Umbra closes one of DeFi’s biggest gaps in privacy. Its dual revenue model of protocol fees and SDK monetization builds sustainability.
Fair tokenomics, DAO-first governance, and Arcium’s secure infrastructure make Umbra a key step toward private, composable DeFi on Solana.
How to Make $10K in Crypto Right Now (Even With a Small Portfolio)
Everyone’s obsessed with turning $1K into $1M, but let’s be real… most people should focus on hitting their first $10K first. It’s not sexy, but it’s achievable and once you do it, the next levels become way easier.
Here’s how you actually get there 👇
-> Increase your cash flow. Work an extra shift, freelance, flip stuff online, do whatever it takes. Extra income is fuel for your portfolio.
-> Budget properly. If you don’t know where your money’s going, you’re already behind. Cut back on dumb expenses and redirect that capital into your investments.
-> Build discipline. Treat this like a business. Set allocations, stick to your plan, and stop gambling on every shiny new coin.
-> Rotate profits. If a short-term play runs 2-3x, don’t diamond hand it, lock in profits and move them into stronger, long-term positions.
-> Look for plays where you don't have to put upfront capital: there a lot of SocialFi and Airdrops that fit this category
-> Manage risk like a pro. Never overexpose yourself to one trade or narrative. A small loss is recoverable. A blown-up account is not.
Making $10K in crypto isn’t about luck, it’s about focus, discipline and execution. Play the long game, take calculated risks and remember: small wins compound into life-changing gains.
Here are 5 crypto lessons that will save you years of pain 👇
1️⃣ You won’t catch them all. Missing plays is part of the game, FOMOing in late is how most people blow up.
2️⃣ Narratives > charts. Money follows stories. Understand the story early and the gains follow.
3️⃣ Take profits without regret. Nobody ever went broke securing wins.
4️⃣ Survive first, thrive later. Risk management matters more than alpha when you’re building.
5️⃣ Conviction > noise. Tune out CT drama, influencers and hype. Focus on your edge.
Master these and you’ll stop trading like a gambler and start thinking like a pro. Most people never do.