What Really Caused the $19B Crypto Crash and How a Binance Flaw Set It Off

TLDR: $60–90M in USDe and related tokens dumped on Binance triggered internal price distortions. Binance’s use of order-book data instead of oracles led to $1B in forced liquidations. Coordinated shorts on Hyperliquid profited $192M as prices fell globally. The event exposed the risk of centralized pricing systems under leveraged conditions. Crypto traders watched prices nosedive [...]

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