{"id":53984,"date":"2025-10-21T12:48:59","date_gmt":"2025-10-21T12:48:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=53984"},"modified":"2025-10-21T12:48:59","modified_gmt":"2025-10-21T12:48:59","slug":"after-the-october-10-crypto-flash-crash-expect-a-wave-of-lawsuits-wintermute-ceo","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=53984","title":{"rendered":"After the October 10 Crypto Flash Crash, Expect A Wave of Lawsuits: Wintermute CEO"},"content":{"rendered":"
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October 10 was no ordinary day in crypto. Yes, Donald Trump \u201cretaliated\u201d after China announced new plans curbing rare earth metal exports. Truth Social, X, that\u2019s classic Trump. The president won\u2019t hesitate to show how mighty the United States is.<\/span><\/p>\n

The truth of the matter is: News of new tariffs on China was not expected to force a mega drawdown on that thin Friday evening. A -10% drop in Bitcoin would be extreme. However, things quickly went south on that October 10, and after what could be a comparatively \u201csmall\u201d trigger, the world\u2019s most valuable coin crashed from over $120,000 to below $105,000 in 15 short minutes.<\/span><\/p>\n

According to Coinglass, over $16Bn of leveraged positions, long and short, were liquidated on October 10. The sheer size of this liquidation makes October 10 the largest single-day liquidation event in history; a true crypto black swan event.<\/span><\/p>\n

\"After<\/p>\n

(Source: <\/span>Coinglass<\/span><\/a>)<\/span><\/p>\n

DISCOVER: <\/span>10+ Next Crypto to 100X In 2025<\/span><\/a><\/strong><\/p>\n

What Happened? Why Did Crypto Fail? Manipulation or System Failure?<\/span><\/h2>\n

On the surface, it is easy to blame Trump.<\/span><\/p>\n

However, digging deeper, Trump had nothing to do with the \u201cother\u201d slump outside of a mild correction that would ordinarily see BTC USD and some of the <\/span>best cryptos to buy<\/span><\/a> drop -10% max.<\/span><\/p>\n

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