soc.octade.net is a Fediverse instance that uses the ActivityPub protocol. In other words, users at this host can communicate with people that use software like Mastodon, Pleroma, Friendica, etc. all around the world.

This server runs the snac software and there is no automatic sign-up process.

Admin email
social@octade.net

Search results for tag #cryptocurrency

[?]Molly White » 🌐
@molly0xfff@hachyderm.io

Dear Judge Engelmayer On May 11, 2022, I invested $80,000 in LUNA coin. I received this money from the sale of my only apartment. I was moving from Russia (Moscow) to Georgia and planned to change my permanent residence. I am enclosing you with the documents confirming the sale of my only apartment. A day after my investment in LUNA coin, my sold apartment turned into several coins. Specifically, $80,000 turned into $13. I expected Do Hyun Kwon to make rational decisions after the LUNA coin's collapse. Instead, he created LUNA2, bearing no responsibility to investors in the original LUNA coin (now LUNC). Since May 2022, I have been homeless, wandering the streets of Georgia, with no money to rent a place to live. I have developed health complications and am in dire need of hospitalization, but I do not have the financial means to seek medical treatment. I am a single 58-year-old woman, unemployed, and without a pension. My family-my father, mother, and husband-passed away several years earlier. I have no children. I have no recourse. I ask for an immediate, fair decision in Do Hyeon Kwon's case and request full compensation for my financial losses, including any moral damages. I have provided, submitted, and attached all supporting documents to the portal. Since May 2022, I have been in a state of deep stress and depression, which I would not wish on anyone. I would like to tes

Alt...Dear Judge Engelmayer On May 11, 2022, I invested $80,000 in LUNA coin. I received this money from the sale of my only apartment. I was moving from Russia (Moscow) to Georgia and planned to change my permanent residence. I am enclosing you with the documents confirming the sale of my only apartment. A day after my investment in LUNA coin, my sold apartment turned into several coins. Specifically, $80,000 turned into $13. I expected Do Hyun Kwon to make rational decisions after the LUNA coin's collapse. Instead, he created LUNA2, bearing no responsibility to investors in the original LUNA coin (now LUNC). Since May 2022, I have been homeless, wandering the streets of Georgia, with no money to rent a place to live. I have developed health complications and am in dire need of hospitalization, but I do not have the financial means to seek medical treatment. I am a single 58-year-old woman, unemployed, and without a pension. My family-my father, mother, and husband-passed away several years earlier. I have no children. I have no recourse. I ask for an immediate, fair decision in Do Hyeon Kwon's case and request full compensation for my financial losses, including any moral damages. I have provided, submitted, and attached all supporting documents to the portal. Since May 2022, I have been in a state of deep stress and depression, which I would not wish on anyone. I would like to tes

Dear Judge Engelmayer, I am writing to inform the court of the impact Do Kwon had on my family and myself during and after the collapse of Terra. I had never invested serious money prior to Luna but after being educated on the Terra Luna ecosystem by a family member, I was completely on board with the stability and efficiency of the blockchain. I invested countless hours of my time listening to podcasts and watching videos learning how to make the most of my investments. The more time I invested the more money I invested. I invested in new protocols on the system and my days were consumed with all things Terra. I shared my knowledge with friends and family, wanting them to also be part of something great. I was convinced that I was on the ground level of something big and that I would be providing generational wealth for my family. I ended up withdrawing over 100,000 from my 401k and paying the early withdrawal penalty fees because I believed in the long term success of Terra. I never took any profits on the money I had invested. I lost everything in the collapse. When the collapse was happening I still had faith in Luna and was actually still trying to purchase more Luna. I am still in debt over the poor decisions I made during that time, due to my beliefs in the greatness of the ecosystem. The monetary loss was painful but the physical and mental anguish that followed was muc

Alt...Dear Judge Engelmayer, I am writing to inform the court of the impact Do Kwon had on my family and myself during and after the collapse of Terra. I had never invested serious money prior to Luna but after being educated on the Terra Luna ecosystem by a family member, I was completely on board with the stability and efficiency of the blockchain. I invested countless hours of my time listening to podcasts and watching videos learning how to make the most of my investments. The more time I invested the more money I invested. I invested in new protocols on the system and my days were consumed with all things Terra. I shared my knowledge with friends and family, wanting them to also be part of something great. I was convinced that I was on the ground level of something big and that I would be providing generational wealth for my family. I ended up withdrawing over 100,000 from my 401k and paying the early withdrawal penalty fees because I believed in the long term success of Terra. I never took any profits on the money I had invested. I lost everything in the collapse. When the collapse was happening I still had faith in Luna and was actually still trying to purchase more Luna. I am still in debt over the poor decisions I made during that time, due to my beliefs in the greatness of the ecosystem. The monetary loss was painful but the physical and mental anguish that followed was muc

Hi, i was a victim of Do Kwon’s terra luna scam. I am a carer for my Dad, [redacted] and i invested money into terra luna believing that it was a profitable strategy to support my Dad better with medical expenses and being able to sacrifice taking time off work to support him. When i lost all of my funds in this scam i was devastated. I had to take out loans to get by to fund my Dad’s medical bills and just to get by with food and necessities for us both. I am still in debt to this day paying back loans and credit cards. My family has been through immense suffering and i suffer from depression daily since the losses of my life savings. I urge the honourable judge to please hand down harse sentencing to Do Kwon for the crimes that he has committed, i sincerely hope that justice will prevail to recieve some sollace from the torment he has put my family and i through. Kind regards Paul Lynn

Alt...Hi, i was a victim of Do Kwon’s terra luna scam. I am a carer for my Dad, [redacted] and i invested money into terra luna believing that it was a profitable strategy to support my Dad better with medical expenses and being able to sacrifice taking time off work to support him. When i lost all of my funds in this scam i was devastated. I had to take out loans to get by to fund my Dad’s medical bills and just to get by with food and necessities for us both. I am still in debt to this day paying back loans and credit cards. My family has been through immense suffering and i suffer from depression daily since the losses of my life savings. I urge the honourable judge to please hand down harse sentencing to Do Kwon for the crimes that he has committed, i sincerely hope that justice will prevail to recieve some sollace from the torment he has put my family and i through. Kind regards Paul Lynn

    [?]Molly White » 🌐
    @molly0xfff@hachyderm.io

    I have purchased the PACER documents so everyone can read the impact statements submitted by victims of Do Kwon and the 2022 Terra/Luna meltdown. Collapses like these ruin lives.

    courtlistener.com/docket/67087

    Honorable Judge Engelmayer, My name is Stanislav Trofimchuk (Stan). My life and family were pretty much ruined by Mr. Kwon’s actions back in 2022 and I would like to share my story in writing and speak at a sentencing hearing if videoconferencing means are available as I’m unable to attend personally. Below is my story: We came to the United States in 2006 from Ukraine as a young family with a ten-month-old baby, chasing the American Dream and a brighter future for our children — both the one we had and those we still hoped to have. Like most first-generation immigrants, we had to work very hard to build a life for ourselves. For seven straight years I worked multiple jobs, endless hours, no weekends, no holidays — because my wife didn’t have a work permit during all that time. I barely saw my children grow up. She carried the burden of raising our two boys almost entirely alone, with no family nearby, no help at all. After thirteen years of struggle, we finally became U.S. citizens. For the first time I could breathe. I started a small business, came home at reasonable hours, and began repairing the years I had missed with my family. Life finally felt like it was moving forward. By early 2021 the dream was within reach: a modest house in Texas, a growing business, savings carefully set aside so our sons could go to college. After everything, we were closer than ever to “making

    Alt...Honorable Judge Engelmayer, My name is Stanislav Trofimchuk (Stan). My life and family were pretty much ruined by Mr. Kwon’s actions back in 2022 and I would like to share my story in writing and speak at a sentencing hearing if videoconferencing means are available as I’m unable to attend personally. Below is my story: We came to the United States in 2006 from Ukraine as a young family with a ten-month-old baby, chasing the American Dream and a brighter future for our children — both the one we had and those we still hoped to have. Like most first-generation immigrants, we had to work very hard to build a life for ourselves. For seven straight years I worked multiple jobs, endless hours, no weekends, no holidays — because my wife didn’t have a work permit during all that time. I barely saw my children grow up. She carried the burden of raising our two boys almost entirely alone, with no family nearby, no help at all. After thirteen years of struggle, we finally became U.S. citizens. For the first time I could breathe. I started a small business, came home at reasonable hours, and began repairing the years I had missed with my family. Life finally felt like it was moving forward. By early 2021 the dream was within reach: a modest house in Texas, a growing business, savings carefully set aside so our sons could go to college. After everything, we were closer than ever to “making

    described UST as a stablecoin that would always hold its $1 peg, and those protocols as safe, reliable way to earn 19–40% yield. It didn’t feel like gambling; it felt like the answer we had been praying for. We sold everything at discounted prices: the house, the business, the cars. We scraped together just over $190,000 — every dollar of seventeen years of sacrifice — and in late April 2022 I converted it all to UST and locked it into Anchor and Mirror, trusting the promises that had been repeated for months. Just two weeks later, on May 9, 2022, I watched UST fall off its peg. In panic, I almost sold everything to limit the damage, but then I saw Mr. Kwon’s tweet: “Deploying more capital— steady lads.”. The price started recovering that day. I trusted him again and decided to keep the UST locked. What followed were two weeks of pure terror. The Terra blockchain halted. Mirror Protocol liquidity vanished. I couldn’t withdraw a single cent. When the system finally let me out on May 23, UST was trading below $0.07. Our $190,000 had become less than $13,000. Seventeen years of our lives — gone in two weeks. People say you should never risk money you can’t afford to lose. But this never felt like risk. The founder of the project had called it “too big to fail,” boasted that the Luna Foundation Guard would protect every dollar. To a desperate father trying to feed two families in a

    Alt...described UST as a stablecoin that would always hold its $1 peg, and those protocols as safe, reliable way to earn 19–40% yield. It didn’t feel like gambling; it felt like the answer we had been praying for. We sold everything at discounted prices: the house, the business, the cars. We scraped together just over $190,000 — every dollar of seventeen years of sacrifice — and in late April 2022 I converted it all to UST and locked it into Anchor and Mirror, trusting the promises that had been repeated for months. Just two weeks later, on May 9, 2022, I watched UST fall off its peg. In panic, I almost sold everything to limit the damage, but then I saw Mr. Kwon’s tweet: “Deploying more capital— steady lads.”. The price started recovering that day. I trusted him again and decided to keep the UST locked. What followed were two weeks of pure terror. The Terra blockchain halted. Mirror Protocol liquidity vanished. I couldn’t withdraw a single cent. When the system finally let me out on May 23, UST was trading below $0.07. Our $190,000 had become less than $13,000. Seventeen years of our lives — gone in two weeks. People say you should never risk money you can’t afford to lose. But this never felt like risk. The founder of the project had called it “too big to fail,” boasted that the Luna Foundation Guard would protect every dollar. To a desperate father trying to feed two families in a

    completely. Yet that is exactly what happened. I know there are others out there whose stories are even darker than mine. I still hope that Mr. Kwon finds the conscience, the will, and the means to make restitution — so that shattered families like ours might have a chance to rebuild. Thank you for listening. Stanislav

    Alt...completely. Yet that is exactly what happened. I know there are others out there whose stories are even darker than mine. I still hope that Mr. Kwon finds the conscience, the will, and the means to make restitution — so that shattered families like ours might have a chance to rebuild. Thank you for listening. Stanislav

      [?]Molly White » 🌐
      @molly0xfff@hachyderm.io

      Your Honor, In one week in 2022, Do Hyeong Kwon stole my home and my life's savings, my future retirement and hopes. These were my built-up assets made from skipping vacations and huge sacrifices over both my and my wife's careers. I am now 57 and am unlikely to ever have the opportunity to regain this money or a home. Today, I am on the verge of bankruptcy. The total amount lost was just over 1m USD. I made a mistake in my trust and belief in Do Kwon and used some of my house mortgage money to invest in his scam. After the collapse, I was forced to sell our family home. I had a belief that hard work pays off. My lifelong hard work was ripped from under my family and me due to this fraud. We no longer have a home of our own We have credit card debts accumulating We have been forced to obtain a high-interest personal loan to pay for essential medical bills. My wife cries when the credit card bills arrive I take My nights are sleepless and full of stress My daughter asks why we don't have the money to fix the car. We are on the verge of bankruptcy, which would mean I will also lose my job. Words cannot describe the devastation and hardship we continue to experience daily due to the theft committed by Do Kwon. Now we are faced with the stark reality that our hardship is likely to continue until the day we die. We have no doubt that Do Kwon will still have money hidden. We wish to

      Alt...Your Honor, In one week in 2022, Do Hyeong Kwon stole my home and my life's savings, my future retirement and hopes. These were my built-up assets made from skipping vacations and huge sacrifices over both my and my wife's careers. I am now 57 and am unlikely to ever have the opportunity to regain this money or a home. Today, I am on the verge of bankruptcy. The total amount lost was just over 1m USD. I made a mistake in my trust and belief in Do Kwon and used some of my house mortgage money to invest in his scam. After the collapse, I was forced to sell our family home. I had a belief that hard work pays off. My lifelong hard work was ripped from under my family and me due to this fraud. We no longer have a home of our own We have credit card debts accumulating We have been forced to obtain a high-interest personal loan to pay for essential medical bills. My wife cries when the credit card bills arrive I take My nights are sleepless and full of stress My daughter asks why we don't have the money to fix the car. We are on the verge of bankruptcy, which would mean I will also lose my job. Words cannot describe the devastation and hardship we continue to experience daily due to the theft committed by Do Kwon. Now we are faced with the stark reality that our hardship is likely to continue until the day we die. We have no doubt that Do Kwon will still have money hidden. We wish to

      to whom it may concern, my friend and i were very large luna investors based on Do's statements that the peg was restored automatically in 2021, we believed that he had a working technology and luna would have tremendous value capture as UST would be utilized in a bull or bear market i had a mid 8 figure loss in luna (yes that's correct) and my friend later jumped off a building in miami after telling his gf (its in police report) that he lost his money in crypto and was wrong this is he: https://westportlocal.com/news/kxojqtqsip3dlrr3jw7ljs5tziwdl5 failing at a new technology is part of innovation, repeated outright lies about a technology that never existed is criminal and life destroying that is all i've got for ya thanks for listening, josh 

      Alt...to whom it may concern, my friend and i were very large luna investors based on Do's statements that the peg was restored automatically in 2021, we believed that he had a working technology and luna would have tremendous value capture as UST would be utilized in a bull or bear market i had a mid 8 figure loss in luna (yes that's correct) and my friend later jumped off a building in miami after telling his gf (its in police report) that he lost his money in crypto and was wrong this is he: https://westportlocal.com/news/kxojqtqsip3dlrr3jw7ljs5tziwdl5 failing at a new technology is part of innovation, repeated outright lies about a technology that never existed is criminal and life destroying that is all i've got for ya thanks for listening, josh 

      Dear Judge Engelmayer, My name is Concetto Fabrizio Di Rosa, and I am submitting this victim impact statement in connection with the sentencing of Do Hyeong Kwon. I lost approximately €40,000 as a direct result of the collapse of the Terraform ecosystem. This loss created a devastating chain of consequences for me and my family. The money I invested had been carefully saved over time to pay for my son’s planned wedding, which took place in September. When the funds disappeared, I was suddenly unable to cover those expenses. I had to borrow money from friends and relatives, causing deep personal embarrassment and significant tension within my family. The financial impact did not stop there. In desperation, I also borrowed money from my employer, hoping to recover enough to repay the loan. Because the amount was large and I was unable to meet the repayment schedule, I ultimately lost my job. Losing both my savings and my employment in such a short period created immense emotional and psychological stress. I have experienced severe anxiety, sleeplessness, and a constant sense of guilt and shame. These problems have affected my daily life and my relationships with the people I love. Even today, writing about this experience is extremely painful for me. The consequences of this financial disaster have marked my life deeply and continue to affect my family’s stability and well-being.

      Alt...Dear Judge Engelmayer, My name is Concetto Fabrizio Di Rosa, and I am submitting this victim impact statement in connection with the sentencing of Do Hyeong Kwon. I lost approximately €40,000 as a direct result of the collapse of the Terraform ecosystem. This loss created a devastating chain of consequences for me and my family. The money I invested had been carefully saved over time to pay for my son’s planned wedding, which took place in September. When the funds disappeared, I was suddenly unable to cover those expenses. I had to borrow money from friends and relatives, causing deep personal embarrassment and significant tension within my family. The financial impact did not stop there. In desperation, I also borrowed money from my employer, hoping to recover enough to repay the loan. Because the amount was large and I was unable to meet the repayment schedule, I ultimately lost my job. Losing both my savings and my employment in such a short period created immense emotional and psychological stress. I have experienced severe anxiety, sleeplessness, and a constant sense of guilt and shame. These problems have affected my daily life and my relationships with the people I love. Even today, writing about this experience is extremely painful for me. The consequences of this financial disaster have marked my life deeply and continue to affect my family’s stability and well-being.

      Hello, see below Victim Statement as requested. I am writing in regards to the upcoming sentencing of Do Kwon on December 11th. I have never written anything like this or as a man and a father, I hate to set myself up to be called a "victim." The truth of the matter, it was not only I that was the victim, but my family as well. And knowing the ripple effect (that will last for generations) from the choices and negligence this man and the Terraform Team made, it would be wrong of me not to add my 2 cents. So for my family's sake, I will tell how the events played out in my Household. In March of 2022, as I had a significant amount of wealth in the markets and sensed a bit of volatility coming, I decided to place a large portion of my portfolio into a stablecoin, pegged to the US Dollar. In doing research on the best most reliable stablecoin, came UST and the Terraform Labs Team as one of the frontrunners. My decision to place over $200k into UST did not come lightly or did I ever think it was a speculative decision associated with any risk. It was a calculated decision based on the words of a man that was at the forefront of innovation and a Team that had one of the largest blockchains available at the time with Luna at their backing. Again, the funds allocated to UST were not gambling or speculative, they were tucked away in a "savings" account, pegged to the dollar, to be put

      Alt...Hello, see below Victim Statement as requested. I am writing in regards to the upcoming sentencing of Do Kwon on December 11th. I have never written anything like this or as a man and a father, I hate to set myself up to be called a "victim." The truth of the matter, it was not only I that was the victim, but my family as well. And knowing the ripple effect (that will last for generations) from the choices and negligence this man and the Terraform Team made, it would be wrong of me not to add my 2 cents. So for my family's sake, I will tell how the events played out in my Household. In March of 2022, as I had a significant amount of wealth in the markets and sensed a bit of volatility coming, I decided to place a large portion of my portfolio into a stablecoin, pegged to the US Dollar. In doing research on the best most reliable stablecoin, came UST and the Terraform Labs Team as one of the frontrunners. My decision to place over $200k into UST did not come lightly or did I ever think it was a speculative decision associated with any risk. It was a calculated decision based on the words of a man that was at the forefront of innovation and a Team that had one of the largest blockchains available at the time with Luna at their backing. Again, the funds allocated to UST were not gambling or speculative, they were tucked away in a "savings" account, pegged to the dollar, to be put

        [?]⚯ Michel de Cryptadamus ⚯ » 🌐
        @cryptadamist@universeodon.com

        thailand appears to be directly bombing a bunch of cambodia's cyber scam slave compounds

        feels like the world's first shooting war caused by has begun. won't be the last.

        x.com/CyberScamWatch/status/19

          [?]SpaceLifeForm » 🌐
          @SpaceLifeForm@infosec.exchange

          @briankrebs

          Elmo will tweak the algorithm so no one else will see it.

          The cryptocurrency money laundering must contnue.

          m.slashdot.org/story/449947

            [?]⚯ Michel de Cryptadamus ⚯ » 🌐
            @cryptadamist@universeodon.com

            so one of the first things is doing after 's pardon is launching a degenerate gambling - sorry, i mean "crypto trading" - app for kids aged 6 & up.

            no, really.

            x.com/binance/status/199615821

            screenshot of linked tweet about Binance Junior

            Alt...screenshot of linked tweet about Binance Junior

              [?]Molly White » 🌐
              @molly0xfff@hachyderm.io

              This is a scary trend. If crypto prices don’t rebound, DATCOs could be forced to sell their crypto, dragging the market down even further. Galaxy Digital researchers have compared the model, and its potential unwind, to the 1920s investment trust boom and bust.

              This is a scary trend, particularly for traders holding shares in firms that have relied on debt to accumulate their crypto hoards. If crypto prices fail to rally before that debt comes due, the firms could be forced to sell their crypto. Large forced sales, or forced sales across many DATCOs, can depress prices further, only exacerbating the problem. Researchers with Galaxy Digital have compared the potential “unwind” to the busting of the 1920s investment trust boom, writing:12 The 1920s investment trust boom followed a similar reflexive loop. Trusts traded at premiums to NAV, issued shares, and used the proceeds to buy more assets. When sentiment turned, those same mechanics amplified the downside. Collapsing premiums choked off access to capital while leverage magnified losses on falling assets. These cascading failures were an accelerant of the 1929 crash and subsequent Great Depression.

              Alt...This is a scary trend, particularly for traders holding shares in firms that have relied on debt to accumulate their crypto hoards. If crypto prices fail to rally before that debt comes due, the firms could be forced to sell their crypto. Large forced sales, or forced sales across many DATCOs, can depress prices further, only exacerbating the problem. Researchers with Galaxy Digital have compared the potential “unwind” to the busting of the 1920s investment trust boom, writing:12 The 1920s investment trust boom followed a similar reflexive loop. Trusts traded at premiums to NAV, issued shares, and used the proceeds to buy more assets. When sentiment turned, those same mechanics amplified the downside. Collapsing premiums choked off access to capital while leverage magnified losses on falling assets. These cascading failures were an accelerant of the 1929 crash and subsequent Great Depression.

                [?]Molly White » 🌐
                @molly0xfff@hachyderm.io

                With two months of sinking crypto prices, DATCOs are faltering. Some have even begun to sell their crypto to try to rescue plunging stock prices.

                Now, with two months of sinking crypto prices, some of these firms are beginning to look pretty shaky, and the warnings from Chanos and others seem prescient. Many DATCOs have flipped from trading at a premium to a discount, meaning shares trade for less than the value of the underlying digital asset. Nakamoto, a bitcoin treasury company that merged with the publicly traded KindlyMD earlier this year, has cratered by 98%. BitMine is down 77% since adopting its DAT strategy this past summer. The OG, MicroStrategy, is down 60%. (Nakamoto and BitMine are trading at a discount to the value of their treasury holdings; MicroStrategy still trades at a premium, though it has been narrowing.)

                Alt...Now, with two months of sinking crypto prices, some of these firms are beginning to look pretty shaky, and the warnings from Chanos and others seem prescient. Many DATCOs have flipped from trading at a premium to a discount, meaning shares trade for less than the value of the underlying digital asset. Nakamoto, a bitcoin treasury company that merged with the publicly traded KindlyMD earlier this year, has cratered by 98%. BitMine is down 77% since adopting its DAT strategy this past summer. The OG, MicroStrategy, is down 60%. (Nakamoto and BitMine are trading at a discount to the value of their treasury holdings; MicroStrategy still trades at a premium, though it has been narrowing.)

                ETHZilla, which up until August was a pharmaceutical research firm called 180 Life Sciences, sold around $40 million of its ETH treasury to try to bolster its plunging stock price.9 FG Nexus, which also launched an ETH treasury strategy only months ago, has sold nearly $33 million of its holdings for the same purpose.10 Sequans, a semiconductor company that established a bitcoin treasury in June, sold $100 million of its bitcoin to pay down its debt.11

                Alt...ETHZilla, which up until August was a pharmaceutical research firm called 180 Life Sciences, sold around $40 million of its ETH treasury to try to bolster its plunging stock price.9 FG Nexus, which also launched an ETH treasury strategy only months ago, has sold nearly $33 million of its holdings for the same purpose.10 Sequans, a semiconductor company that established a bitcoin treasury in June, sold $100 million of its bitcoin to pay down its debt.11

                  [?]Molly White » 🌐
                  @molly0xfff@hachyderm.io

                  Newsletter: Crypto’s latest “infinite money machine” is the digital asset treasury company — a publicly traded firm that exists primarily to accumulate crypto. For a while, these stocks traded at hefty premiums to the underlying assets. But now, the trade is unraveling.

                  citationneeded.news/digital-as

                    [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                    @cryptadamist@universeodon.com

                    Ω🪬Ω
                    : I Made Epstein's Texts Great Again (And You Should Read Them)

                    I converted the text message logs in the recently released 20,000 pages of Epstein effluence to a more friendly format, deanonymized them, and read them. You should too.

                    Almost 50% of the text messages released by congressional Republicans are Epstein texting back and forth with his best friend Steve Bannon, which I must admit was pretty surprising.

                    Over the course of the texts Epstein describes himself as a member of the Republican party ("on the same team") and apparently one who was enough to be besties with Bannon).

                    Bannon and Epstein do things like tell jokes, talk about their friends in the chinese mafia (), tease each other about girlfriends, and plot to overthrow democracy and install fascism with ,

                    No, really. Just read the texts. It's all there

                    * My thoughts: cryptadamus.substack.com/p/i-m
                    * The texts: michelcrypt4d4mus.github.io/ep

                    p.s. I suspect the house Repuhblicans released so many of Bannon's texts to discredit him (mission accomplished).
                    [dons tinfoil hat] Maybe for criticizing so much.

                    Screenshot of substack link

                    Alt...Screenshot of substack link

                      [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                      @cryptadamist@universeodon.com

                      World’s hardest core / most respected investigative journalists over at dropping carpet bombs all over the industry today with a massive long form investigatory series called The Coin Laundry… family and catching some serious strays.

                      > "Funds from a...ring of Chinese traffickers of ... flowed to various accounts at , and a Russian money launderer specializing in moving crypto for North Korea’s weapons program maintained an account at [Donald Trump’s business partner 's] [crypto exchange]".

                      icij.org/investigations/coin-l

                        [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                        @cryptadamist@universeodon.com

                        Ω🚨Ω

                        smoking gun as far as epstein crypto / political fuckery...

                        one of the more ominous emails in the collection is a conversation where and discuss "coin issues", "campaign donations", and "foreign donors" in response to an email about General not being trusted with classified intel by the administration.

                        we can be sure they’re talking about in the context of campaign donations + foreign donors because epstein asks bannon about "brocks people" (meaning who’s involved with / / lots of chinese exchanges / / etc) then saying he found a right wing “swiss” crypto bro to work with in named (who apparently is a Substackoor should you want to test out putting his name in that Substack search bar)

                        also note the scare quotes around the word "swiss". is actually a city in but 's pretty clearly saying that the crypto bros in Zug aren’t actually swiss.

                        From: "jeffrey E." <jeevacation@gmail.corn> Date: Sat, 24 Feb 2018 08:13:08 -0500 To: Steve Bannon<> Subject: Re: Lawyer for Susan Rice: Obama administration justifiably concerned' about sharing intel with Trump team - POLITICO HOUSE OVERSIGHT 026260 coin issues. : receive coins, distribute coins, pay in coins, coin cooperative, prohibitions foreign donor.? i need to understand flow of funds. . donor to campiagn c?s. does it have to go to campaign first. . does it have to go there at all etc. On Sat, Feb 24, 2018 at 7:48 AM, Steve Bannon < I> wrote: https://www.politico.com/story/2018/02/23/susan-rice-lawyer-obama-administration-classified-intelligence-michael-flynn-trump-423437

                        Alt...From: "jeffrey E." <jeevacation@gmail.corn> Date: Sat, 24 Feb 2018 08:13:08 -0500 To: Steve Bannon<> Subject: Re: Lawyer for Susan Rice: Obama administration justifiably concerned' about sharing intel with Trump team - POLITICO HOUSE OVERSIGHT 026260 coin issues. : receive coins, distribute coins, pay in coins, coin cooperative, prohibitions foreign donor.? i need to understand flow of funds. . donor to campiagn c?s. does it have to go to campaign first. . does it have to go there at all etc. On Sat, Feb 24, 2018 at 7:48 AM, Steve Bannon < I> wrote: https://www.politico.com/story/2018/02/23/susan-rice-lawyer-obama-administration-classified-intelligence-michael-flynn-trump-423437

                        From: Steve Bannon Sent: 2/24/2018 1:23:41 PM To: Jeffrey Epstein [jeevacation@gmail.com] Subject: Re: Lawyer for Susan Rice: Obama administration 'justifiably concerned' about sharing intel with Trump team - Importance: High I think I have the most solid guy on the right--tied into the 'swiss' guys Named jeffrey wernick--going thru due diligence now ---ive known him a while as I've studied this--he can walk u thru the deal From: "jeffrey E." <jeevacation@gmail.com> Date: Sat, 24 Feb 2018 08:20:46 -0500 To: Steve Bannon<___________________ Subject: Re: Lawyer for Susan Rice: Obama administration justifiably concerned' about sharing intel with Trump team - POLITICO do you have coin guys. brocks people . or should we find? some of the lefty crpto guys , might find it difficult to join, but they said bringing tech to discourse is on a higher plane

                        Alt...From: Steve Bannon Sent: 2/24/2018 1:23:41 PM To: Jeffrey Epstein [jeevacation@gmail.com] Subject: Re: Lawyer for Susan Rice: Obama administration 'justifiably concerned' about sharing intel with Trump team - Importance: High I think I have the most solid guy on the right--tied into the 'swiss' guys Named jeffrey wernick--going thru due diligence now ---ive known him a while as I've studied this--he can walk u thru the deal From: "jeffrey E." <jeevacation@gmail.com> Date: Sat, 24 Feb 2018 08:20:46 -0500 To: Steve Bannon<___________________ Subject: Re: Lawyer for Susan Rice: Obama administration justifiably concerned' about sharing intel with Trump team - POLITICO do you have coin guys. brocks people . or should we find? some of the lefty crpto guys , might find it difficult to join, but they said bringing tech to discourse is on a higher plane

                          [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                          @cryptadamist@universeodon.com

                          future of finance

                          theweek.in/news/middle-east/20

                            [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                            @cryptadamist@universeodon.com

                            china just sentenced a bunch of crypto scammers to death

                            protos.com/china-is-sentencing

                              [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                              @cryptadamist@universeodon.com

                              one of the largest crypto protocols is currently being robbed, $88 million stolen and counting. it will probably turn out to be (because it's almost always north korea) but TBD.

                              one of the fun things about crypto is that when someone robs a bank you can watch the getaway car drive away just by clicking on some links in a blockchain explorer.

                              [edit] details of the bug that was exploited if you’re into that kind of thing: x.com/moo9000/status/198526273

                              [edit] ended up being a ~$130 million heist.

                              UPDATE: The attack is ongoing. The estimated loss is ~$88M on multiple chains Quote PeckShieldAlert @PeckShieldAlert · 38m #PeckShieldAlert @balancer has been drained ~$70.8M worth of cryptos, including 6,851.12 $osETH (~$27M), 6,587.44 $WETH (~$24.5M) & 4,259.84 $wstETH (19.3M)

                              Alt...UPDATE: The attack is ongoing. The estimated loss is ~$88M on multiple chains Quote PeckShieldAlert @PeckShieldAlert · 38m #PeckShieldAlert @balancer has been drained ~$70.8M worth of cryptos, including 6,851.12 $osETH (~$27M), 6,587.44 $WETH (~$24.5M) & 4,259.84 $wstETH (19.3M)

                                [?]vicash » 🌐
                                @vicash@fosstodon.org

                                What is going on with ? ZECUSD price has 10x’d in the last few weeks.

                                  [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                  @cryptadamist@universeodon.com

                                  congratulations americans, you will soon be able to bet on the outcome of the 2026 elections at a business operated by an infernal conglomeration of the trump family and an organized crime adjacent crypto exchange (Crypto[.]com) whose assets were seized by the Bank of for for a few years ago.

                                  what could go wrong?

                                  * Fortune: fortune.com/crypto/2025/10/28/
                                  * Crypto Dot Con?: cryptadamus.substack.com/p/are

                                  Trump media firm dives into red hot prediction markets, in tie-up with Crypto.com

                                  Alt...Trump media firm dives into red hot prediction markets, in tie-up with Crypto.com

                                    [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                    @cryptadamist@universeodon.com

                                    recent price chart for the shows a massive crash in price on the left (when Trump announced new tariffs on ) and a massive pump just now (when Trump TACOed and announced there would be a trade deal with china) coincidentally back to exactly the same price it was before the first announcement.

                                    99.9% of TRUMP trading happens on offshore exchanges that are controlled by chinese nationals and banned from operating within the US.

                                    every $1 the price moves up the trump family gets a billion dollars and every $1 the price goes down the trump family loses a billion dollars.

                                    put it all together and it means the chinese can pump or dump the trump family's net worth by billions any time they want to. the response will be predictably pavlovian.

                                    price chart of Trump showing drop from $7.50 to $5.50 on october 11th and immediate jump from $6.00 to $7.50 a few hours ago

                                    Alt...price chart of Trump showing drop from $7.50 to $5.50 on october 11th and immediate jump from $6.00 to $7.50 a few hours ago

                                      [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                      @cryptadamist@universeodon.com

                                      you'll never guess who's paying for the new wing of the White House

                                      (hint: it's bros)

                                      The donors include tech giants whose leaders have dined with Trump during his second administration, including Amazon, Apple, Google and Meta Platforms. Also heavily represented on the list were key players in the crypto twins, who have emerged as fierce allies of the president in recent months. Rounding out the list are tobacco companies Altria Group and Reynolds American, an oil magnate, and others who are subject to government regulations.

                                      Alt...The donors include tech giants whose leaders have dined with Trump during his second administration, including Amazon, Apple, Google and Meta Platforms. Also heavily represented on the list were key players in the crypto twins, who have emerged as fierce allies of the president in recent months. Rounding out the list are tobacco companies Altria Group and Reynolds American, an oil magnate, and others who are subject to government regulations.

                                        [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                        @cryptadamist@universeodon.com

                                        1/ nothing says "america first" like pardoning canadian¹ crypto criminals that laundered truly staggering amounts of money (possibly hundreds of billions of dollars) for drug , , russian oligarchs, fentanyl traffickers, gangs, and child abusers, at least as long as they pay ~$90 million / year to your crypto business.
                                        wsj.com/finance/currencies/tru

                                        ¹ pronounced "chinese"

                                        screenshot of WSJ article

                                        Alt...screenshot of WSJ article

                                          Nonya Bidniss boosted

                                          [?]Molly White » 🌐
                                          @molly0xfff@hachyderm.io

                                          Donald Trump has pardoned Binance founder Changpeng Zhao. Binance has been a major supporter of Trump's crypto projects, and Trump has already made millions after Binance accepted a $2 billion investment from an Emirati fund denominated in the Trump family's USD1 stablecoin.

                                          One of the people CZ hired to lobby for the pardon is Teresa Goody Guillén, a lawyer who has simultaneously represented the Trump World Liberty Financial project. She's also lobbied on behalf of Binance on crypto-related topics.

                                          wsj.com/finance/currencies/tru

                                          WSJ headline: Trump Pardons Convicted Binance Founder Subhead: Pardon follows months of efforts by Changpeng Zhao to boost Trump crypto company

                                          Alt...WSJ headline: Trump Pardons Convicted Binance Founder Subhead: Pardon follows months of efforts by Changpeng Zhao to boost Trump crypto company

                                            [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                            @cryptadamist@universeodon.com

                                            “may you live in interesting times”
                                            x.com/WatcherGuru/status/19811

                                            (fwiw i definitely do not think the CIA created bitcoin, though I do have strong opinions about who did because all the available evidence points in the same direction: satoshi is cypherpunk encryption programmer turned international drug kingpin and warlord Paul LeRoux. see here: substack.com/home/post/p-77404 )

                                            @WatcherGuru JUST IN: 🇺🇸 Tucker Carlson says he will not invest in Bitcoin because he believes the CIA created it.

                                            Alt...@WatcherGuru JUST IN: 🇺🇸 Tucker Carlson says he will not invest in Bitcoin because he believes the CIA created it.

                                              [?]Amgine » 🌐
                                              @Amgine@mamot.fr

                                              @briankrebs

                                                [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                                @cryptadamist@universeodon.com

                                                's "Base" went down when failed.

                                                is pure decentralization theater. there is no decentralization, there's just a buzzword you can now throw out any time you don't want to comply with financial regulations.

                                                Woman: Base is decentralized Man: Be honest Woman: Base is progressively decentralized Man: be honest woman: base runs on AWS man: thank you

                                                Alt...Woman: Base is decentralized Man: Be honest Woman: Base is progressively decentralized Man: be honest woman: base runs on AWS man: thank you

                                                  [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                                  @cryptadamist@universeodon.com

                                                  this is an actual slide from a real presentation a few months ago by the king of the “borrow money to buy bitcoin” companies / Strategy /

                                                  LONG TERM BTC CAPITAL STRUCTURE (~3 years) picture of a pyramid with MSTR at the bottom, BTC in the next layer, the STRD, STRK, STRC, and STRF

                                                  Alt...LONG TERM BTC CAPITAL STRUCTURE (~3 years) picture of a pyramid with MSTR at the bottom, BTC in the next layer, the STRD, STRK, STRC, and STRF

                                                    [?]⚯ Michel de Cryptadamus ⚯ » 🌐
                                                    @cryptadamist@universeodon.com

                                                    there's an old fashioned run on the bank currently underway at one of 's biggest customers: Cambodia's infamous / / / .

                                                    According to TRM Labs Huione-linked wallets have received almost $100 billion since 2021. That’s roughly four nimitz class nuclear powered aircraft carriers worth of Tether’s USDT token.

                                                    kiripost.com/stories/scores-of

                                                    screenshot of linked article

                                                    Alt...screenshot of linked article

                                                      [?]Molly White » 🌐
                                                      @molly0xfff@hachyderm.io

                                                      A practice called auto-deleveraging likely saved some exchanges from accumulating huge amounts of bad debt, but it also likely slowed recovery by thinning liquidity even further — and it increased the nerves of traders who saw even profitable positions unwound.

                                                      Auto-deleveraging Crypto exchanges that offer leverage trading take on the risk that markets can fall faster than leveraged positions can be liquidated. They typically maintain “insurance funds” to absorb the occasional residual losses in these cases. But what happens if that insurance fund runs dry? In some cases, the exchanges collapse, and losses are spread across all of the platform’s customers. (Sam Bankman-Fried has repeatedly claimed that FTX’s collapse was thanks to oversized margin trades gone bad, though this explanation conflicts with the evidence that FTX had been secretly diverting customer deposits to cover Alameda Research’s losses long before the crash.) But many platforms have implemented a system called auto-deleveraging, which is sometimes analogized to an emergency brake for when things start to get out of control. In these cases, exchanges may reduce other traders’ profitable leveraged positions to rescue an underwater position.

                                                      Alt...Auto-deleveraging Crypto exchanges that offer leverage trading take on the risk that markets can fall faster than leveraged positions can be liquidated. They typically maintain “insurance funds” to absorb the occasional residual losses in these cases. But what happens if that insurance fund runs dry? In some cases, the exchanges collapse, and losses are spread across all of the platform’s customers. (Sam Bankman-Fried has repeatedly claimed that FTX’s collapse was thanks to oversized margin trades gone bad, though this explanation conflicts with the evidence that FTX had been secretly diverting customer deposits to cover Alameda Research’s losses long before the crash.) But many platforms have implemented a system called auto-deleveraging, which is sometimes analogized to an emergency brake for when things start to get out of control. In these cases, exchanges may reduce other traders’ profitable leveraged positions to rescue an underwater position.

                                                      During this crypto crash, exchanges began to blow through their insurance funds. Binance, for example, dipped into its insurance fund to the tune of around $188 million over just that one day. A chart showing an insurance fund balance of around 1.2–1.25 billion, dropping to below $1.05 billion on October 10 Binance’s claimed insurance fund balance (Binance, geofenced) And so multiple platforms resorted to auto-deleveraging. Among them was Hyperliquid, a buzzy defi trading platform, whose founder stated that “this was Hyperliquid’s first cross-margin ADL in more than 2 years of operation” and that “billions of dollars worth of positions [were] liquidated on Hyperliquid in a matter of minutes.”9 This helped stop the bleeding somewhat, and likely saved some exchanges from collapse. However, the early closures of short positions also removed even more orders from order books, thinning liquidity even further and potentially making it harder for markets to stabilize.

                                                      Alt...During this crypto crash, exchanges began to blow through their insurance funds. Binance, for example, dipped into its insurance fund to the tune of around $188 million over just that one day. A chart showing an insurance fund balance of around 1.2–1.25 billion, dropping to below $1.05 billion on October 10 Binance’s claimed insurance fund balance (Binance, geofenced) And so multiple platforms resorted to auto-deleveraging. Among them was Hyperliquid, a buzzy defi trading platform, whose founder stated that “this was Hyperliquid’s first cross-margin ADL in more than 2 years of operation” and that “billions of dollars worth of positions [were] liquidated on Hyperliquid in a matter of minutes.”9 This helped stop the bleeding somewhat, and likely saved some exchanges from collapse. However, the early closures of short positions also removed even more orders from order books, thinning liquidity even further and potentially making it harder for markets to stabilize.

                                                        Luka Rubinjoni boosted

                                                        [?]Molly White » 🌐
                                                        @molly0xfff@hachyderm.io

                                                        In the chaos, one trader profited ~$150 million from well-timed shorts. With an offshore crypto trading platform, potentially offshore trader, and no regulators apparently interested in crypto enforcement, the possibility that someone was trading on White House inside info will likely go unexamined.

                                                        Insider trading allegations In the aftermath, analysts noticed a wallet that had deposited millions into the Hyperliquid decentralized exchange before the crash, taking a heavily leveraged short position on bitcoin and ether. When the market plummeted, they profited to the tune of more than $150 million. The remarkable timing led some researchers and institutions to question whether the trader had inside information from the White House about upcoming tariff announcements, and the blockchain analytics company Arkham labeled the wallet “Trump insider whale” on their platform.10 Some researchers suggested that the wallet might belong to Garrett Jin, the former CEO of BitForex, a Hong Kong-based exchange that shut down in early 2024 amid exit-scam allegations [W3IGG]. Without initially addressing whether he controlled the wallet, Jin posted to Twitter that “I have no connection with the Trump family or Donald Trump Jr. — this isn’t insider trading”, but then later deleted the tweet. Other crypto sleuths have questioned whether Jin really controlled the wallet or is merely connected to the person who does.11 Jin later tweeted, “The fund isn’t mine — it’s my clients’.”12

                                                        Alt...Insider trading allegations In the aftermath, analysts noticed a wallet that had deposited millions into the Hyperliquid decentralized exchange before the crash, taking a heavily leveraged short position on bitcoin and ether. When the market plummeted, they profited to the tune of more than $150 million. The remarkable timing led some researchers and institutions to question whether the trader had inside information from the White House about upcoming tariff announcements, and the blockchain analytics company Arkham labeled the wallet “Trump insider whale” on their platform.10 Some researchers suggested that the wallet might belong to Garrett Jin, the former CEO of BitForex, a Hong Kong-based exchange that shut down in early 2024 amid exit-scam allegations [W3IGG]. Without initially addressing whether he controlled the wallet, Jin posted to Twitter that “I have no connection with the Trump family or Donald Trump Jr. — this isn’t insider trading”, but then later deleted the tweet. Other crypto sleuths have questioned whether Jin really controlled the wallet or is merely connected to the person who does.11 Jin later tweeted, “The fund isn’t mine — it’s my clients’.”12

                                                        In traditional markets, a $150 million profit on well-timed shorts ahead of a presidential announcement might trigger inquiries from the SEC, CFTC, or DOJ. But in crypto, it’s not even clear which agency, if any, would have authority to investigate crypto trades around government announcements. Hyperliquid is based offshore, the possible wallet owner may be as well, and regulatory jurisdiction over cryptocurrency remains hotly contested. It’s not clear which authority has the mandate — or perhaps the appetite — to investigate potential insider trading.

                                                        Alt...In traditional markets, a $150 million profit on well-timed shorts ahead of a presidential announcement might trigger inquiries from the SEC, CFTC, or DOJ. But in crypto, it’s not even clear which agency, if any, would have authority to investigate crypto trades around government announcements. Hyperliquid is based offshore, the possible wallet owner may be as well, and regulatory jurisdiction over cryptocurrency remains hotly contested. It’s not clear which authority has the mandate — or perhaps the appetite — to investigate potential insider trading.

                                                          Luka Rubinjoni boosted

                                                          [?]Molly White » 🌐
                                                          @molly0xfff@hachyderm.io

                                                          But the biggest factor in the meltdown was leverage. As prices dropped, leveraged positions were forcibly liquidated. This contributed to sell pressure, causing prices to go lower, triggering more liquidations. A classic crypto “death spiral”.

                                                          Cascading liquidations were worsened by crypto exchange glitches which left some customers watching helplessly as stop-losses failed to trigger or trades to add more collateral to at-risk positions failed to execute.

                                                          Though leverage is not unique to crypto, some things are: the extremely high leverage offered by some platforms (100x or more), the ability to use highly volatile cryptoassets as collateral, the speed at which positions can unwind, and limited requirements for position monitoring or risk management.

                                                          Leverage The biggest factor in the Friday crash was leverage. As I described in my most recent recap, crypto leverage — whether through borrowing programs, margin trading, or perpetual futures — creates a cycle of risk that can rapidly snowball. Borrowers often borrow against, say, bitcoin in order to buy more bitcoin. This creates a feedback loop of risk: when bitcoin prices fall, borrowers simultaneously lose value on their original collateral and on their newly acquired bitcoin, rapidly pushing them toward overleveraged positions. When numerous borrowers are forced to liquidate at once, the resulting sell pressure can create a snowball effect that drives prices down further and becomes very difficult to stop. This is precisely what happened. Price dips from the first wave of crypto sell-offs caused some leveraged positions and crypto loans to be automatically liquidated as platforms determined there wasn’t sufficient margin to keep them open.c As exchanges forcibly liquidated these positions, they contributed to the sell pressure, causing prices to drop further, triggering more margin calls — the classic crypto “death spiral”.

                                                          Alt...Leverage The biggest factor in the Friday crash was leverage. As I described in my most recent recap, crypto leverage — whether through borrowing programs, margin trading, or perpetual futures — creates a cycle of risk that can rapidly snowball. Borrowers often borrow against, say, bitcoin in order to buy more bitcoin. This creates a feedback loop of risk: when bitcoin prices fall, borrowers simultaneously lose value on their original collateral and on their newly acquired bitcoin, rapidly pushing them toward overleveraged positions. When numerous borrowers are forced to liquidate at once, the resulting sell pressure can create a snowball effect that drives prices down further and becomes very difficult to stop. This is precisely what happened. Price dips from the first wave of crypto sell-offs caused some leveraged positions and crypto loans to be automatically liquidated as platforms determined there wasn’t sufficient margin to keep them open.c As exchanges forcibly liquidated these positions, they contributed to the sell pressure, causing prices to drop further, triggering more margin calls — the classic crypto “death spiral”.

                                                          And some traders don’t just borrow crypto against dollars or stablecoins, but borrow volatile cryptoassets against other volatile cryptoassets. In crashes like this, where the prices of many cryptocurrencies were all simultaneously dropping, these positions were even more volatile because traders’ debt burden was growing as their collateral value was diminishing — causing positions to be liquidated much more rapidly than if the collateral was fixed. And in these types of positions, if a trader is forcibly liquidated, exchanges sometimes need to sell off the loan collateral as well as the borrowed asset, causing sell pressure for both assets. As prices fall, those trading on leverage are often given an opportunity to restore their positions to a “healthy” state by adding more collateral, thus increasing their margin level. But with the often slow process of converting fiat currency into cryptocurrency, often the only option for traders to obtain more crypto to use as collateral in an emergency is to sell off other crypto assets. This contributes to overall sell pressure as traders panic-sell assets to shore up their leveraged positions. And in rapidly falling markets, traders can be wiped out before they have any chance to add collateral.

                                                          Alt...And some traders don’t just borrow crypto against dollars or stablecoins, but borrow volatile cryptoassets against other volatile cryptoassets. In crashes like this, where the prices of many cryptocurrencies were all simultaneously dropping, these positions were even more volatile because traders’ debt burden was growing as their collateral value was diminishing — causing positions to be liquidated much more rapidly than if the collateral was fixed. And in these types of positions, if a trader is forcibly liquidated, exchanges sometimes need to sell off the loan collateral as well as the borrowed asset, causing sell pressure for both assets. As prices fall, those trading on leverage are often given an opportunity to restore their positions to a “healthy” state by adding more collateral, thus increasing their margin level. But with the often slow process of converting fiat currency into cryptocurrency, often the only option for traders to obtain more crypto to use as collateral in an emergency is to sell off other crypto assets. This contributes to overall sell pressure as traders panic-sell assets to shore up their leveraged positions. And in rapidly falling markets, traders can be wiped out before they have any chance to add collateral.

                                                          These issues were amplified by crypto exchange glitches, where malfunctioning price feeds and de-pegged assets caused erroneous liquidations based on inaccurate prices. (Binance later paid out $283 million to compensate users who had been erroneously liquidated due to apparent de-pegs on their platform,7 plus another $400 million to traders and institutions that were wiped out due to legitimate liquidations.8) On platforms where trades failed or faced significant delays, some customers watched their leveraged positions get forcibly liquidated in front of their eyes as they were unable to top up collateral.

                                                          Alt...These issues were amplified by crypto exchange glitches, where malfunctioning price feeds and de-pegged assets caused erroneous liquidations based on inaccurate prices. (Binance later paid out $283 million to compensate users who had been erroneously liquidated due to apparent de-pegs on their platform,7 plus another $400 million to traders and institutions that were wiped out due to legitimate liquidations.8) On platforms where trades failed or faced significant delays, some customers watched their leveraged positions get forcibly liquidated in front of their eyes as they were unable to top up collateral.

                                                          While leverage exists in traditional markets too, the crypto industry takes it to new extremes. Traditional brokers typically limit margin trading to 2–4× leverage, require stable assets like dollars or blue-chip stocks as collateral, and must follow strict regulatory requirements around position monitoring and risk management. But crypto exchanges routinely offer leverage up to 100× or more, accept volatile cryptocurrencies as collateral, and operate with minimal oversight. Traditional markets also have circuit breakers and trading halts that can pause cascading liquidations, and brokers typically follow careful procedures with multiple warning thresholds before forcing positions to close. In crypto, a position can be liquidated before a trader even knows they’re in trouble.

                                                          Alt...While leverage exists in traditional markets too, the crypto industry takes it to new extremes. Traditional brokers typically limit margin trading to 2–4× leverage, require stable assets like dollars or blue-chip stocks as collateral, and must follow strict regulatory requirements around position monitoring and risk management. But crypto exchanges routinely offer leverage up to 100× or more, accept volatile cryptocurrencies as collateral, and operate with minimal oversight. Traditional markets also have circuit breakers and trading halts that can pause cascading liquidations, and brokers typically follow careful procedures with multiple warning thresholds before forcing positions to close. In crypto, a position can be liquidated before a trader even knows they’re in trouble.

                                                            [?]Molly White » 🌐
                                                            @molly0xfff@hachyderm.io

                                                            It all started when Trump’s threat to further increase tariffs on China by 100% caused traders to panic sell crypto, with some fleeing for safer assets like Treasury bills and gold.

                                                            Bitcoin plummeted 10% in the span of minutes, and other tokens were even harder hit. Altcoins like Solana plunged 40%, and Trump’s own memecoin dipped more than 60%.

                                                            Volatility only increased as market makers withdrew. Some accused these institutions abandoning their responsibility during a critical time, while others reasoned that they have no regulatory or other mandate to stabilize markets — potentially at their own expense.

                                                            The initial sell-off The markets were already rattled by China’s October 9 announcement that it would tighten its grip on rare-earth mineral exports — crucial materials for high-tech manufacturing that China controls through its near-monopoly on processing. This was viewed as an escalation in the ongoing economic conflict between the two superpowers, which has already left some analysts fearing market crashes or even a global recession. Trump’s choice to retaliate with threats of an enormous tariff hike renewed fears of severe economic turmoil and disrupted supply chains. Traders panic-sold high-risk assets like cryptocurrency, with some fleeing to the safety of Treasury bonds and gold. (Bitcoin advocates’ claim that bitcoin functions as “digital gold” has, once again, not held up under pressure.)

                                                            Alt...The initial sell-off The markets were already rattled by China’s October 9 announcement that it would tighten its grip on rare-earth mineral exports — crucial materials for high-tech manufacturing that China controls through its near-monopoly on processing. This was viewed as an escalation in the ongoing economic conflict between the two superpowers, which has already left some analysts fearing market crashes or even a global recession. Trump’s choice to retaliate with threats of an enormous tariff hike renewed fears of severe economic turmoil and disrupted supply chains. Traders panic-sold high-risk assets like cryptocurrency, with some fleeing to the safety of Treasury bonds and gold. (Bitcoin advocates’ claim that bitcoin functions as “digital gold” has, once again, not held up under pressure.)

                                                            In the span of minutes, Bitcoin plummeted around 10%. Altcoins plunged even more steeply, with the popular Solana token diving 40% and Trump’s own memecoin falling more than 60%. The trading firm Wintermute reported that the median crypto token price drop was around 54%, and more than 90% of tokens lost more than 10% of their value.2

                                                            Alt...In the span of minutes, Bitcoin plummeted around 10%. Altcoins plunged even more steeply, with the popular Solana token diving 40% and Trump’s own memecoin falling more than 60%. The trading firm Wintermute reported that the median crypto token price drop was around 54%, and more than 90% of tokens lost more than 10% of their value.2

                                                            Crypto’s generally illiquid markets contributed to the price volatility. CoinDesk reported that “market depth collapsed by more than 80% across major exchanges within minutes.”3 Market makers — institutions that normally provide liquidity and price stability by taking the opposite side of trades — came under fire as some accused them of amplifying the crash by withdrawing liquidity during this crucial period. The Coinwatch crypto tracking platform accused market makers of “desert[ing] their responsibility”,4 and blockchain analyst YQ alleged “they executed a coordinated withdrawal at the optimal moment to minimize their losses while maximizing subsequent opportunities.”5 Others characterized these institutions’ pullback as a normal risk management response to elevated volatility, and the predictable actions of firms with no mandate to maintain market stability at the expense of their trading books. Regardless of the reason, the severe lack of market depth resulted in extreme price dislocations across exchanges. On Binance, the Cosmos token momentarily appeared to plummet in value from $3.90 to a tenth of a cent.

                                                            Alt...Crypto’s generally illiquid markets contributed to the price volatility. CoinDesk reported that “market depth collapsed by more than 80% across major exchanges within minutes.”3 Market makers — institutions that normally provide liquidity and price stability by taking the opposite side of trades — came under fire as some accused them of amplifying the crash by withdrawing liquidity during this crucial period. The Coinwatch crypto tracking platform accused market makers of “desert[ing] their responsibility”,4 and blockchain analyst YQ alleged “they executed a coordinated withdrawal at the optimal moment to minimize their losses while maximizing subsequent opportunities.”5 Others characterized these institutions’ pullback as a normal risk management response to elevated volatility, and the predictable actions of firms with no mandate to maintain market stability at the expense of their trading books. Regardless of the reason, the severe lack of market depth resulted in extreme price dislocations across exchanges. On Binance, the Cosmos token momentarily appeared to plummet in value from $3.90 to a tenth of a cent.

                                                              Luka Rubinjoni boosted

                                                              [?]Molly White » 🌐
                                                              @molly0xfff@hachyderm.io

                                                              As trading activity spiked, exchanges went down or suffered outages that prevented people from placing trades or shoring up their positions. Binance, Coinbase, Kraken, Robinhood, and several other major platforms were all reported to experience significant service interruptions.

                                                              Crypto exchange glitches As trading activity spiked on exchanges and prices whipsawed, multiple centralized platforms suffered glitches. Binance’s site went completely down at one point, and customers reported unexplained account freezes, unsuccessful trades, and automated protections like stop-lossesb failing to trigger. Several tokens intended to be maintain pegs to other assets, such as USDe, de-pegged on Binance’s Earn program. Coinbase’s status page claimed there was “latency or degraded performance when transacting”, although customers widely reported not being able to trade at all. The Kraken app showed customers a vague “something went wrong” screen, and customers reported similar issues with trades not completing and stop-losses not triggering. Robinhood users also reported the app freezing, and attempted trades not going through. Other exchanges including OKX, Bitget, and MEXC had intermittent outages, delayed trades, or inaccurate price information.

                                                              Alt...Crypto exchange glitches As trading activity spiked on exchanges and prices whipsawed, multiple centralized platforms suffered glitches. Binance’s site went completely down at one point, and customers reported unexplained account freezes, unsuccessful trades, and automated protections like stop-lossesb failing to trigger. Several tokens intended to be maintain pegs to other assets, such as USDe, de-pegged on Binance’s Earn program. Coinbase’s status page claimed there was “latency or degraded performance when transacting”, although customers widely reported not being able to trade at all. The Kraken app showed customers a vague “something went wrong” screen, and customers reported similar issues with trades not completing and stop-losses not triggering. Robinhood users also reported the app freezing, and attempted trades not going through. Other exchanges including OKX, Bitget, and MEXC had intermittent outages, delayed trades, or inaccurate price information.

                                                              Some have accused centralized exchanges of minimizing their own losses at their customers’ expense by intentionally halting trading or withdrawals under the guise of “technical difficulties”. Indeed, it is suspiciously common for supposedly highly sophisticated centralized exchanges to suddenly experience glitches or announce urgent “maintenance” under far less volatile circumstances. Kris Marszalek, founder of the Crypto.com centralized exchange, was among the most prominent to repeat this allegation, tweeting that regulators should investigate rival exchanges to determine if any “slow[ed] down to a halt, effectively not allowing people to trade”.6

                                                              Alt...Some have accused centralized exchanges of minimizing their own losses at their customers’ expense by intentionally halting trading or withdrawals under the guise of “technical difficulties”. Indeed, it is suspiciously common for supposedly highly sophisticated centralized exchanges to suddenly experience glitches or announce urgent “maintenance” under far less volatile circumstances. Kris Marszalek, founder of the Crypto.com centralized exchange, was among the most prominent to repeat this allegation, tweeting that regulators should investigate rival exchanges to determine if any “slow[ed] down to a halt, effectively not allowing people to trade”.6

                                                                [?]Molly White » 🌐
                                                                @molly0xfff@hachyderm.io

                                                                Newsletter: Anatomy of a crypto meltdown

                                                                October 2025 brought the most dramatic crypto flash crash of all time, but it was only a dress rehearsal for the systemic crisis the industry is building toward.

                                                                citationneeded.news/anatomy-of

                                                                  Luka Rubinjoni boosted

                                                                  [?]Molly White » 🌐
                                                                  @molly0xfff@hachyderm.io

                                                                  Crypto’s October 10 flash crash, following a Trump social media post threatening severe tariffs on China, caused $19 billion in liquidations. It’s a signal that the market most eager to be taken seriously may also be the one least equipped to handle real-world shocks.

                                                                  At 4:50 pm on October 10, when traditional markets were closed, Donald Trump launched a new salvo in the simmering US–China trade war. Likely referring to China’s dramatically expanded restrictions on the rare earth minerals it almost singlehandedly controls, Trump posted that he would retaliate with an imminent 100% tariff increase on the country and new export controls on software. The timing muted the announcement’s impact on US equities markets and left Asian markets largely untouched,1 but crypto absorbed the full shock of the Trump-induced panic. The episode compressed a global liquidity crisis into less than an hour — a sign that the market most eager to be taken seriously may also be the one least equipped to handle real-world shocks.

                                                                  Alt...At 4:50 pm on October 10, when traditional markets were closed, Donald Trump launched a new salvo in the simmering US–China trade war. Likely referring to China’s dramatically expanded restrictions on the rare earth minerals it almost singlehandedly controls, Trump posted that he would retaliate with an imminent 100% tariff increase on the country and new export controls on software. The timing muted the announcement’s impact on US equities markets and left Asian markets largely untouched,1 but crypto absorbed the full shock of the Trump-induced panic. The episode compressed a global liquidity crisis into less than an hour — a sign that the market most eager to be taken seriously may also be the one least equipped to handle real-world shocks.

                                                                  Bitcoin shed more than $10,000 in a matter of minutes, with the flash crash wiping out at least 10%a of its value instantly and pushing prices 15% below their morning levels. Traders holding $19 billion in leveraged positions were liquidated in a blink, and complaints erupted on social media as crypto platform glitches exacerbated losses. The worst of the chaos was over quickly, and Trump’s Sunday retreat from his bold threats made only days prior helped to further stabilize jumpy markets — though bitcoin continues to trade down about 13% below its price from that morning, and 16% below its all-time high set only the prior Monday. But the October 10 panic gave a valuable reminder of the frightening speed at which crypto markets can unravel, and a dire warning for a future scenario in which crypto is further integrated into traditional finance.

                                                                  Alt...Bitcoin shed more than $10,000 in a matter of minutes, with the flash crash wiping out at least 10%a of its value instantly and pushing prices 15% below their morning levels. Traders holding $19 billion in leveraged positions were liquidated in a blink, and complaints erupted on social media as crypto platform glitches exacerbated losses. The worst of the chaos was over quickly, and Trump’s Sunday retreat from his bold threats made only days prior helped to further stabilize jumpy markets — though bitcoin continues to trade down about 13% below its price from that morning, and 16% below its all-time high set only the prior Monday. But the October 10 panic gave a valuable reminder of the frightening speed at which crypto markets can unravel, and a dire warning for a future scenario in which crypto is further integrated into traditional finance.

                                                                    [?]Toni Aittoniemi » 🌐
                                                                    @gimulnautti@mastodon.green

                                                                    Every time before a financial crash, the financial markets will seek popular middle-class investment for one last injection of cash into an overheated bubble.

                                                                    I can see the same thing happening all over again today.

                                                                      [?]🌱🏴‍🅰️🏳️‍⚧️🐧🔧📎 Ambiyelp [she/her] » 🌐
                                                                      @ambiguous_yelp@veganism.social

                                                                      @burnoutqueen private like is good when its used to hide revolutionary activity from the state, and its good when sex workers and other dark economy workers use it to avoid paying taxes they cant afford on their income, and its good whenever it is used to frustrate blanket surveillance on what people are paying for online. also good when undocumented immigrants who can't get a bank account use it to solicit donations so they can eat, I actually know someone who does this. idk what forex is

                                                                        [?]William Lindsey :toad: » 🌐
                                                                        @wdlindsy@toad.social

                                                                        "The Trump family notched as much as $5 billion in paper wealth on Monday after its flagship crypto venture opened trading of a new digital currency."

                                                                        ~ Angus Berwick


                                                                        /1

                                                                        wsj.com/finance/currencies/tru

                                                                          Back to top - More...

                                                                          about this site - powered by snac/2.92-dev