Binance CEO: Apologizes to Users Affected During Flash Crash, Will Address Each Issue Seriously

On October 12th, based on Coinglass data, within the past 24 hours, the total net outflow of BTC on CEX was 2,167.72 BTC. The top three exchanges with the largest outflows are as follows: · Coinbase Pro, with an outflow of 6,310.24 BTC; · Gemini, with an outflow of 311.01 BTC; · Korbit, with an outflow of 55.57 BTC. In addition, Bybit witnessed an inflow of 1,557.73 BTC and ranked first on the inflow list.

October 12th, Binance issued the "Announcement on USDE, BNSOL, and WBETH Detaching Incident Handling and Risk Control Optimization." The announcement indicated that Binance had completed a comprehensive review of the incident and would compensate all affected futures, margin, and borrowing users within 72 hours. The compensation would be automatically credited to the relevant user accounts. **Compensation Plan** All affected futures, margin, and borrowing users who used USDE, BNSOL, and WBETH as collateral and were affected by the detachment between 05:36 and 06:16 on October 11, 2025 (UTC+8) would receive a price difference compensation. The specific amount would be calculated based on the difference between the market price at 08:00 on October 11, 2025 (UTC+8) and the liquidation price. If a user's situation did not fall within the above scope, they could directly contact Binance customer service for manual assistance, obtain the form link to submit an application, and we would ha

On October 11th, Li Hua, the founder of Liquid Capital (formerly LD Capital), released a statement stating that the overall market witnessed billions of dollars in liquidation. The main affected groups were liquidity providers and active traders. This has caused much more damage to the market than imagined. Especially for meme coins that were liquidated in a single transaction, it will take a long time to restore investment confidence and liquidity. It is strongly recommended that trading platforms allocate a portion of their profits to establish a liquidity protection fund to prevent extreme situations where liquidity dries up and assets go to zero. Just as the Federal Reserve has a market stabilization function, we believe that platforms making tens of billions of dollars in annual profits have the ability and responsibility to establish such a mechanism. Otherwise, the market will suffer catastrophic damage, affecting not only platform users but also the market and the platforms the

On October 12th, as monitored by OnchainLens, a new wallet has once again withdrawn 27,159 Ethereum from Kraken, with a value of $104.19 million.
Today, a total of 3 wallet addresses have withdrawn a combined 78,824 Ethereum from Kraken, amounting to $302.12 million. These funds may potentially belong to Ethereum's largest holding institution, Bitmine.

October 11th. Forgiven, a co-founder of Conflux, expressed his viewpoints on USDe, a project under Ethena Labs. He stated that USDe is essentially a financial certificate rather than a stablecoin. Some users also pointed out that USDe is a Hedge Fund Product with a built-in rebase mechanism, where the Net Asset Value (NAV) can always be pegged to 1 US dollar. The claim that "USDe is a stablecoin" is the greatest misalignment in its marketing narrative. This is done deliberately to attract more use cases, such as payments, USD trading pairs, and margin trading. However, the reality is that USDe is a form of aggressive financial product innovation. Founder of Today's Formula News, Vida, stated that the root cause of today's large-scale liquidation may be the "forced liquidation of USDe arbitrageurs' loop positions." This led to a decrease in the collateral capacity of USDe as a unified account collateral, causing more liquidation of positions of market makers who were using USDe as coll

On October 11th, Anita Soni, an analyst from the Capital Markets division of the Canadian Imperial Bank of Commerce, predicted in her latest forecast that the price of gold will reach $4500 per ounce in 2026 and 2027. Then, it will decline to $4250 in 2028 and further drop to $4000 in 2029. The analyst indicated that she still anticipates a favorable macroeconomic environment for gold. Uncertainty in tariff policies will continue, and the negative impact of tariffs that have been implemented and those that are about to be implemented on consumer purchasing power has not yet fully manifested in the U.S. economy. Meanwhile, the Federal Reserve yielded to Trump's call for rate cuts earlier than Soni had expected. Soni believes that the earlier increase in gold prices this year was related to rate cuts, but the recent parabolic surge is driven by concerns about long-term inflation and wealth preservation because the Fed's monetary policy has not specifically focused on long-term inflation.