Good morning all! If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
→ Binance founder CZ says “Protect users,” following major crypto liquidation event on Binance exchange.
→ Friday’s crypto liquidation event triggered Bitcoin’s first-ever $20,000 daily price swing.
→ Over 1,000 wallets on Hyperliquid wiped out in market crash, 6,300+ wallets with losses exceeding $1.23B, 205 wallets lost over $1M and 1,070+ lost over $100K.
→ President Trump reaffirms 130% tariffs on China effective November 1st, adding export controls on all critical software amid escalating trade tensions.
→ 50% chance Bitcoin will trade below $100K this year, per traders on Kalshi.
→ Crypto investor and influencer Konstantin Galish found dead in Lamborghini amid historic market crash.
→ China says it will stand firm against US tariffs. "We do not want a tariff war but we are not afraid of one."
→ China blames President Trump and the US for escalating trade war.
→ Binance CEO Richard Teng says the company will "learn from what happened" and is "committed to doing better." "I'm truly sorry to everyone who was impacted."
→ 2 weeks ago, Eric Trump said Q4 will be "unbelievable" for crypto. Yesterday the crypto market recorded the largest single-day liquidation event in history.
→ Binance co-founder Yi He says users who suffered losses attributable on the exchange can request compensation.
→ Chance Bitcoin hits $130K in October drops to 15% on Polymarket.
→ GSR says its “OTC desk remains extremely active and able to handle client requests” - “We continue to provide liquidity across most tokens, with modest quote adjustments amid the extreme volatility”
→ Polymarket recorded its highest daily spot volume in 2025 on October 10.
→ Wintermute founder says "Sorry to disappoint you, but Wintermute is perfectly fine, business as usual."
→ Wintermute co-founder says "For the sake of this industry, please no more DMs about Wintermute being ‘ok’. Not only we are market neutral but we also barely have any leverage. Sure, the venture portfolio suffers but there’s 0 leverage there."
→ Cryptocom CEO says "Proud of our team that built a robust, resilient platform that didn’t flinch under the pressure of massive traffic spikes and industry-wide record-breaking liquidation cascades."
→ Hyperliquid says “During the recent market volatility, the Hyperliquid blockchain had zero downtime or latency issues despite record traffic and volumes. HyperBFT consensus and execution handled the spike in throughput gracefully.”
→ The interest expense on US national debt rose to a record $1.22 trillion in the last 12 months, more than doubling over the past 4 years. The US government now spends more money on interest than it does on national defense.
📊 Altcoin Market Updates 📊
→ $1 million in $SLERF raised for Slerf migration in the first hour.
→ Publicly traded Bitmine Immersion buys another 27,256 ETH worth $104.1 million.
→ Publicly traded Bitmine Immersion now has a floating loss of over $1.9 billion on its ETH holdings.
→ Eclipse posts its token’s down-only chart.
→ Chance Monad airdrop takes place by October 31 drops to 20% on Polymarket.
→ Financial Times article calls Friday's crypto crash a "trash crash" - asks readers to "pray for Dogecoin."
→ GMGNAI says "Due to an issue with Fourmeme launchpad, new token launches on BSC have largely paused, and graduated tokens are temporarily unable to migrate."
→ ZEC is up over 9% in the past 24 hours - despite the biggest liquidation event in crypto history having taken place.
→ Helius CEO says “We just witnessed a dump greater than even the Covid one, and somehow Solana worked great.”
If you enjoyed this daily roundup, make sure to follow me – I'll see you tomorrow.
@TimothyAssi
$BTC $ETH $SOL $XRP $ZEC $BNB
Thanks for reading
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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