treaderromour

The crypto community is buzzing with questions over whether the recent Binance crash was a planned, targeted move involving Ethena Labs (ENA) and its USDe stablecoin.

According to insights shared by Dr. Yaoqi Jia, Binance had scheduled a price index adjustment for October 14, but it was reportedly executed early on October 11 — coinciding with a massive liquidation cascade across multiple assets.

🔍 What Happened

A sudden $60 million USDe sell-off appears to have triggered widespread forced liquidations, especially in low-liquidity assets such as wBETH and BnSOL, setting off what analysts described as a recursive liquidation spiral.

Peak depegs recorded:

USDe: $0.65

wBETH: $430

BnSOL: $34.90

This rapid chain reaction wiped out positions across DeFi protocols and injected heavy volatility into the broader crypto market.

⚠️ Why Analysts Suspect Coordination

Two main points suggest potential intentional manipulation:

Timing: The liquidation wave hit just before Binance’s oracle update, exploiting outdated price feeds.

Execution: The $60M dump showed no slippage protection, an anomaly in organic market behavior.

Preliminary estimates suggest the attacker may have profited $800M–$1.2B via shorts, discounted buys, and arbitrage across exchanges.

Binance has confirmed it will investigate the event, though tracking the orchestrator could be difficult if fake KYC credentials were used.

🌐 Why This Matters

This incident exposes a critical weakness in both centralized and decentralized markets — the reliance on oracle timing and liquidity depth.

If the manipulation theory holds, expect:

Stricter oracle monitoring and faster feed updates

Better on-chain risk control mechanisms

Greater transparency in stablecoin collateral models

For traders, it’s a sharp reminder: avoid high leverage and stay cautious during system updates or oracle recalibrations.

💬 FAQs

Q1: What caused the Binance crash?
A $60M USDe sell-off caused cascading liquidations due to delayed oracle pricing and thin liquidity.

Q2: Was Ethena Labs responsible?
There’s no official link confirming ENA’s direct involvement, though its tokens were heavily impacted.

Q3: Could this happen again?
Yes — unless exchanges and DeFi protocols improve coordination between oracle systems, liquidity, and index timing.

💭 Analyst View:
Many believe this could be one of the most sophisticated attacks in recent DeFi history, blending market manipulation with oracle exploits.

#TreaderRomour @romouraa #Write2Earn #CreatorPad $ALT

Disclaimer: This is not financial advice. Analysis based on publicly available data and ongoing community discussions.