Crypto.com CEO Kris Marszalek called for a regulation of exchanges that suffered the largest losses following a record of $ 20 billion in liquid cryptos over the past 24 hours.
On a Saturday Post In X, Marszalek urged the regulators to “conduct a thorough review of the fairness of skills,” asked if trade platforms Anti-manipulation and compliance controls During crashing.
“Regulators should look at exchanges with most exterminations in the last 24 hours,” he wrote. “Any of them slow down a stop, effectively not allowing people to trade? Is everyone in priced correctly and consistent with indexes?”
Data from coinglass shows that hyperliquid led all exchanges with fluids, which recorded $ 10.31 billion in wiped positions. This is followed bybit with $ 4.65 billion, and Binance with $ 2.41 billion. Other major platforms such as OKX, HTX and Gate have seen a smaller sum, at $ 1.21 billion, $ 362.5 million and $ 264.5 million, respectively.
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Binance confirms the token deg that has been able to trigger fluids to the user
In a announcementBinance confirmed an incident of DEPEG of the price involving the USDA by Ethena (Use), BNSOL and WBeth have led to forced fluids for some users. The exchange states that it checks the affected accounts and “appropriate reay steps.”
The announcement came after some users reported the loss due to platform errors. A businessman of Binance claimed The exchange completely closed their short position while leaving their long openness, leading to a total loss. The user said the issue was not associated with auto-deveraging (ADL) and noted that similar trading on other platforms, such as lighter and expanded, survived the crash.
Binance co-founder yi too identified User complaints in a public apology, citing “significant market change and a large flow of users.” He said Binance would pay verified cases where platform errors caused losses but emphasized that “losses resulting from market change and not realized that income is not worth it.”
According to the data accumulated Through the Crypto analyst Quinten François, the latest crypto market Wipeout has echoed every previous collapse. The $ 19.31 billion in liquids is more than ten times the losses seen during the COVID-19 crash ($ 1.2 billion) and FTX collapse ($ 1.6 billion).
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Trump slapped 100% tariffs on Chinese imports
The recent meltdown on the market came after US President Donald Trump announced Plans to impose 100% tariffs In all Chinese imports starting November 1 in response to new China export restrictions on rare mineral soils.
China, which provides nearly 70% of rare minerals in the world world, recently declared that any product containing more than 0.1% rare Chinese Earth will require a export license. The proposal is set to carry out December 1st.
Trump criticized Beijing’s policy as “a moral shame” and indicated to cancel a planned meeting with President Xi Jinping at the upcoming APEC Summit.
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