The crypto market recorded more than $19 billion in single-day liquidations on October 11, 2025, setting a record. Bitcoin fell 12.7%, from approximately $116,900 to $102,000, within 30 minutes. Several trading platforms experienced extreme price deviations, and Binance later paid approximately $283 million in compensation to affected users. On-chain data shows that a Hyperliquid whale completed an approximately $400 million BTC short position before Trump released tariff-related news, prompting insider-trading speculation. Garrett Jin, a person associated with the relevant address, denied any connection to Trump, and the allegations remain unverified.