Galaxy Punk 🚀🌖

Wandering across the #crypto universe #cosmos #finance

[Galaxy Punk 🚀🌖 @galacticwand]

@dashboardlim FREE

[Galaxy Punk 🚀🌖 @galacticwand]

@Crypto_McKenna Isn't retatrutide still in phase 3 trials? How can you people get it? 😕

[Galaxy Punk 🚀🌖 @galacticwand]

@burstingbagel Agree! AlphaFold is going to accelerate drug discovery- we should see the effects in 2-3 years. The bottleneck will be clinical trials infrastructure, but probably AI will make them cheaper and more efficient. Also more surrogate end points and digital twins means shorter trials

[Galaxy Punk 🚀🌖 @galacticwand]

@galactic_punks Looks like I can't vote because I wasn't in the DAO when the proposal started - is there a way around this or should I wait for round 2?

[Galaxy Punk 🚀🌖 @galacticwand]

@adaptiveai Adaptive

[Adaptive @adaptiveai]

Introducing Adaptive Computer.

We put AI inside of an always-on personal computer that it uses to get work done.

Schedule agents. Create software. Automate anything.

As part of the launch, we’re giving one free month of Adaptive to users.

Retweet, like, and comment ‘Adaptive’ to get it.

[Galaxy Punk 🚀🌖 @galacticwand]

@itsolelehmann COWORK

[Galaxy Punk 🚀🌖 @galacticwand]

@aiedge_ Hacked

[Galaxy Punk 🚀🌖 @galacticwand]

@_RicMota Qual é o bull case para RUNE renascer das cinzas?

[DonAlt @DonAlt]

Very well written piece worth a read

[Galaxy Punk 🚀🌖 @galacticwand]

@SorcererTrading Hi!

[Abstract @AbstractChain]

Dear algorithm,

Please show this post to everyone who believes in Abstract so we can add their names to a special list.

Thank you.

[Galaxy Punk 🚀🌖 @galacticwand]

@PlayBNBCartel Cartel wars

[Galaxy Punk 🚀🌖 @galacticwand]

@CryptoThannos @Four_FORM_ too big of a market cap already? Any privacy clone?

[Galaxy Punk 🚀🌖 @galacticwand]

@iscantrenches @bnb_astrategy How does it work? Is there a website?

[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.

[Galaxy Punk 🚀🌖 @galacticwand]

@KoroushAK Risk

[Galaxy Punk 🚀🌖 @galacticwand]

@Obesepotato_hl If I just bought btc and DCA'd into hype I would have outperformed most market participants without stress and minimal time staring at the screen

[Galaxy Punk 🚀🌖 @galacticwand]

@Aster_DEX What a shitshow.. I'll take the fees and never come back.

Hyperliquid