Crypto Carnage Shocker – Binance Pledges $1.9B+ in Payouts After $19B Selloff (and How to Buy Bitcoin Safely)
On Oct 10, 2025, former President Trump stunned markets by threatening 100% tariffs on Chinese imports along with new export controls. This reignited full-scale trade-war fears and triggered a sudden flight from risk assetsccn.com. With crypto markets already jam-packed with leveraged bets, the effect was devastating. Within hours, Bitcoin crashed 16%, wiping out about $19–20 billion in margin positions – the largest crypto liquidation event everdlnews.comts2.tech. Over 1.6 million traders were liquidated in 24 hoursdlnews.com, far exceeding any prior crypto crash. The selling was most intense on Friday night and Saturday morning, when roughly $7B was flushed in a single hourdlnews.com.