coin-img-ETHETH-2.06%coin-img-HYPEHYPE+5.76%coin-img-XAUTXAUT-6.03%coin-img-ASTERASTER-3.06%coin-img-BTCBTC+0.92%coin-img-SOLSOL+2.11%coin-img-XRPXRP-1.67%coin-img-USDCUSDC-0.01%coin-img-ETHETH-2.06%coin-img-HYPEHYPE+5.76%coin-img-XAUTXAUT-6.03%coin-img-ASTERASTER-3.06%coin-img-BTCBTC+0.92%coin-img-SOLSOL+2.11%coin-img-XRPXRP-1.67%coin-img-USDCUSDC-0.01%coin-img-ETHETH-2.06%coin-img-HYPEHYPE+5.76%coin-img-XAUTXAUT-6.03%coin-img-ASTERASTER-3.06%coin-img-BTCBTC+0.92%coin-img-SOLSOL+2.11%coin-img-XRPXRP-1.67%coin-img-USDCUSDC-0.01%coin-img-ETHETH-2.06%coin-img-HYPEHYPE+5.76%coin-img-XAUTXAUT-6.03%coin-img-ASTERASTER-3.06%coin-img-BTCBTC+0.92%coin-img-SOLSOL+2.11%coin-img-XRPXRP-1.67%coin-img-USDCUSDC-0.01%
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Elena Zenth

OKX CEO Says Binance USDe Push Drove October 10, 2025 Crypto Flash Crash and $19B Wipeout

On October 10, 2025, OKX CEO Star Xu publicly argued that Binance's USDe promotion was a key driver behind a sharp crypto flash crash that erased about $19 billion in positions in a single day. The event saw assets such as BTC and ETH slump as USDe allegedly depegged by 35% on Binance and has since fueled debate over centralized exchanges, risk management practices, and the future direction of crypto markets.
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