MARKET COLLAPSE SHOCKER: BILLIONS WIPED OUT
The crypto market didn't crash by accident. It was a perfect storm of irresponsible marketing. Hundreds of billions vanished on October 10th. This event fundamentally altered market microstructure, with damage exceeding the FTX collapse for many.
The root cause: A high-yield promotion for a tokenized hedge fund product, disguised as a stablecoin. Users were incentivized to swap stable assets for higher returns, with insufficient risk disclosure. This created a ticking time bomb. Even minor volatility triggered a catastrophic loss of peg, chain liquidations, and amplified losses across the board.
This is not about blame, but about systemic risk. The industry demands leaders prioritizing stability and transparency.