Jonathan Man on What Happened and How

Friday’s sell-off triggered what Bitwise portfolio manager Jonathan Man called the worst liquidation event in crypto history, with more than $20 billion wiped out as liquidity vanished and forced deleveraging took hold, in an article on X published Saturday. Perpetual futures — “perps” in trading shorthand — are cash-settled contracts with no expiry that mirror…

Hyperliquid Trader Loses $21M in Private Key Exploit

On Thursday, a single user on the decentralized trading platform Hyperliquid lost about $21 million after a private key leak led to an exploit involving the platform’s Hyperdrive lending protocol. According to blockchain security company PeckShield, the attacker targeted 17.75 million DAI (DAI) and 3.11 million SyrupUSDC, a synthetic version of the USDC stablecoin used…

Market Crash Caused by Perfect Storm of Short-Term Factors: Analysts

The sudden market crash on Friday, which caused some cryptocurrencies to decline by as much as 95% in under 24 hours, does not signal a long-term bearish outlook or deteriorating fundamentals, according to investment analysts at The Kobeissi Letter. Friday’s market meltdown was triggered by a perfect storm of short-term factors, including “excessive leverage and…

Markets Recover From Biggest Liquidation in Crypto History

Today in crypto, Zcash recovers to pre-crash highs, Crypto.com CEO Kris Marszalek has urged regulators to probe exchanges after $20 billion in liquidations, and Bitcoin’s price may experience more volatility in the coming days. Zcash reclaims pre-crash highs The price of Zcash (ZEC) recovered to pre-crash highs and hit a new high of about $293…

Simmer Down, Bitcoin Is Going To Be Ok: Look At The Data

Key takeaways: Friday’s Bitcoin price crash shows volatility persists in the spot BTC ETF era, with leverage and liquidity stress amplifying losses. Liquidations hit $5 billion as portfolio margin systems failed, highlighting risks of illiquid collateral assets. Bitcoin derivatives suggest market makers remain cautious amid low liquidity, insolvency rumors, and Monday’s US national holiday, leading…

Market Crash Caused by Perfect Storm of Short-Term Factors: Analysts

The sudden market crash on Friday, which caused some cryptocurrencies to decline by as much as 95% in under 24 hours, does not signal a long-term bearish outlook or deteriorating fundamentals, according to investment analysts at The Kobeissi Letter. Friday’s market meltdown was triggered by a perfect storm of short-term factors, including “excessive leverage and…

Market Crash Caused by Perfect Storm of Short-Term Factors: Analysts

The sudden market crash on Friday, which caused some cryptocurrencies to decline by as much as 95% in under 24 hours, does not signal a long-term bearish outlook or deteriorating fundamentals, according to investment analysts at The Kobeissi Letter. Friday’s market meltdown was triggered by a perfect storm of short-term factors, including “excessive leverage and…

AI-Powered Wearables Will Force Our Privacy Expectations To Change

Opinion by: Evin McMullen, co-founder and CEO of Billions Network and co-founder of Privado ID Population monitoring has evolved over the years. First, it was from other people; later, it was data harvesting. In 2025, wearable technology is the new frontier for broader public surveillance.  This isn’t necessarily some dystopia, nor is it comfortable —…

Crypto Funds Flip Total 2024 Inflows At $48.7 Billion YTD

Update (Oct. 9, 11:15 am UTC): This article has been revised to reflect the latest CoinShares data on 2024 inflows, following discrepancies with data previously reported by CoinShares in early 2025. Cryptocurrency investment products reached a major milestone, with year-to-date (YTD) inflows surpassing the total recorded in 2024. Global crypto exchange-traded products (ETPs) have attracted…

Senate Passes GAIN Act as Part of 2026 National Defense Authorization Bill

The US Senate has advanced sweeping AI legislation under the National Defense Authorization Act, compelling chipmakers to serve US customers first before exporting advanced processors abroad. On Thursday, senators passed the Guaranteeing Access and Innovation for National Artificial Intelligence Act of 2026, or GAIN Act, as an amendment to National Defense Authorization Act, requiring AI and high-performance…