The Binance Liquidity Collapse: What Really Happened Between 21:18 and 21:20 UTC
Note: Full article was written by Benson Sun. Three days ago, the crypto market suffered the largest liquidation wave in its history. Many analysts — myself included — first noticed that the USDe stablecoin had sharply depegged, but only on Binance. At the time, we assumed this was the result of cascading liquidations from looping…