Here we go. Chapter 3: https://x.com/yq_acc/status/19...
@yq_acc What about the mysterious whale and timing of his short?
@shmula For that, we need more investigations
@yq_acc great article!
@yq_acc Huge work YQ!🫡
@Denis_0x Ty
@yq_acc It’s been a pleasure reading this piece. Thanks for your work ser
@LongDuong Ty
@yq_acc really really great article
@quagw1re Ty
@yq_acc this makes more sense than other explanations 🫡
@xerocooleth Ty
@yq_acc Really cool article, learned a few things here!
@yq_acc Great article!
@Lalocripto Ty
@yq_acc Great write up!
@yq_acc A lot of accounts getting paid for promoting this f* nonsense theory lol. No one believes it, we are not dumb.
@yq_acc USDe is printed out of thin air and its fair market price is zero, thus, in a crash, it should naturally get destroyed. The only reason it didn't dump as bad outside of binance is a. less leverage on other exchanges, and b, market manipulation by hardcoding it to usdt on aave.
@yq_acc Why post price index feed changes and specifically state the reason as “minimize the risk of depegging”? It seems like an invitation to bad actors to see if they can manipulate price. Is this normal practice?
@yq_acc What looks like “coordinated attack” is often just systemic fragility. When all value flow depends on push, liquidity can’t rebalance until after failure. Pull-based rails would have absorbed that shock before contagion. http://recurprotocol.com/why-p...
@yq_acc USDe 不应被视为 1:1 锚定的稳定币，它本质上是一只代币化对冲基金。是理财产品，都是有风险的，需要做好一定的风险预估
@yq_acc I vaguely recall in 2017 (ish?) somebody had collected a bunch of exchange account APIs. But instead of stealing funds (likely because they can't), they had the APIs simply sell (an access the API had). They coordinated all the accounts to sell specific assets to cause a crash,
@yq_acc Great essay, good job man👍
@yq_acc amazing! cant wait for pt.3
@yq_acc Nice article. I'd say the dump all boils down to Binance infra not being as efficient as it should given the firms position in the industry. And this is not the first time Binance infra is lagging on high activity. Then there's the possibility that institutions halt a little
@yq_acc More likely it was Binance itself, fucking over their customers and the entire crypto ecosystem to make massive profits.
@yq_acc Checks out with BNB being among the strongest performers after the flush
@yq_acc when you say a billion was extracted, where did that money go? who benefited?
@yq_acc Finally someone gets it...took long enough.
@yq_acc fuck perps give us options
@yq_acc I can solely doubt that Trump synced his tariffs with the ann🙊, btw USDe did depeg so "only ann's assets" is wrong🤷♂️ Parsimony principle would call high emotional degeneracy level, saturated & ready to nuke on any priming🤔 Those assets were vulnerable, so, such surprising?🥸
@yq_acc Very good read. Indeed i feel that ATOM going to 0.001$ in spot on Binance like other alts must have proffited to some sophisticated entities But that would have been noticed by Binance itself no ? if an attacker was targetting Binance, funds could have been frozen ?
@yq_acc "One theory circulating among traders: the initial altcoin liquidations at 5:20 AM specifically targeted market makers. If true, this would explain the subsequent liquidity vacuum. When MMs are forced out, they withdraw from all order books simultaneously, leaving markets