Binance Reveals Truth Behind October 10 Crypto Flash Crash: Macro Forces and Technical Glitches

TLDR: Macro shock triggered $1.5 trillion equity losses and $100B+ Bitcoin derivatives liquidations globally.  Market makers withdrew liquidity automatically during volatility, leaving most exchanges with zero bids.  Ethereum gas fees spiked to 100 gwei, delaying arbitrage and widening spreads across trading venues.  Binance compensated affected users $328M and launched $300M Together Initiative for broader support. [...]

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