Chinese Meme Token "Hakimi" Surpasses $87 Million in Market Cap, With a 24-Hour Gain of 160%

On October 11th, a co-founder of Binance, He Yi, stated, "Thank you very much for your support. I would like to reiterate our principle: Binance will handle issues related to the platform appropriately. Those users who bought decoupled assets at a low price yesterday did so through staying up late and earned it. We will not take back these assets. For financial management users involving these three types of decoupled packaged assets, we are handling them gradually. For trading users who suffered losses or liquidation due to platform delays, we will handle each case individually." Some friends have been actively spreading information about Binance's loss compensation, resulting in a surge in inquiries. We have activated a customer service team that is still in training and arranged for cross-language translation. This has easily led to more backlog and issues. Once again, I would like to emphasize that we do not compensate for individual transaction losses caused by price fluctuations

October 11th. The transaction information platform Kobeissi Letter released a market perspective today, indicating that during today's flash crash, Bitcoin witnessed a daily candlestick price fluctuation of $20,000. Bitcoin's market capitalization also underwent a significant fluctuation of $380 billion within a single day, a situation that has never been seen before in history. This black swan event was triggered by various sudden technical factors, but it will not have a long-term fundamental impact. Technical corrections have been ongoing for a long time, and we believe that a trade agreement will be reached. Cryptocurrencies still maintain their strength, and we maintain an optimistic outlook on the future market trend. This week's rebound in volatility presents an opportunity for investors. The macroeconomy is in a state of change, and investments can be made in stocks, commodities, bonds, and cryptocurrencies. The downturn reminds us of how fragile the market has become, yet how

On October 11th, Richard Teng, the CEO of Binance, stated: "During the past 24 hours, the cryptocurrency market has been highly volatile. I am aware that many people have faced challenges on our platform. To all the affected users, I offer my sincere apologies." "We will never make any excuses. Instead, we will listen attentively, learn from these experiences, and continuously strive to improve. If you still have any unresolved problems, please get in touch with our Binance support team. We will handle each issue with seriousness and provide appropriate compensation when necessary. Market fluctuations are an inherent part of the market, and we encourage all users to stay well-informed and exercise caution during periods of volatility. Thank you for your continuous support."

On October 11th, as monitored by LookOnChain, Bitmine, the first-position institutional investor in Ethereum, once again increased its holdings by 27,256 ETH, which is worth $104 million. Earlier today, the chairman of BitMine stated that today's dip is a good opportunity for shaking out, and a pullback is a buying opportunity.

On October 11th, according to the data from LookOnChain, following today's market crash, Tether and Circle jointly issued a total of $1.75 billion worth of stablecoins.

On October 11th, as per the monitoring of LookOnChain, on the Hyperliquid platform, more than 1000 wallet addresses were almost wiped out during today's market flash crash. In total, more than 6300 wallets suffered losses, with a total loss exceeding 1.23 billion US dollars. 205 wallets lost more than 1 million US dollars, and more than 1070 wallets lost more than 100,000 US dollars.