crash

ARK Invest founder, Cathie Wood, criticized Anthropic CEO Dario Amodei in her monthly market outlook, stating that he has created negative headlines about AI risks and mass unemployment, including "a 10% chance of human extinction in the next decade, mass unemployment, and so on."Cathie Wood stated, "I don't understand why he would say these things. We don't believe any of these statements are true. In fact, we believe we will face a labor shortage."

On November 6, U.S. President Trump posted that the stock market decline was blamed on the Democrats. He stated that the stock market experienced one of the worst trading days in history due to the election results, causing a retreat from levels that had been hard-earned, and mentioned that the related fluctuations led to a shrinkage of 401(k) retirement accounts.In his post, Trump claimed that this situation was not caused by Republicans but by the Democrats, using the term "Dumocrats." He also stated not to be afraid, claiming that soon things would become stronger than ever before in some way, and reiterated to make America great again.

The Bitcoin Lightning Network client Core Lightning released version 26.06.10, which fixes risks related to channel balances and vulnerabilities that could lead to remote crashes of nodes. The official team urges node operators to complete the upgrade as soon as possible.The maintenance team stated that to provide a window for node operators to upgrade, the test cases related to the above fixes have not been made public, and relevant details will be disclosed after the nodes complete the update.

The liquidity service provider Quote Markets team member filo published a review of the XPL flash crash event on Hyperliquid. During the flash crash of XPL on Hyperliquid, 16 wallets associated with funds and trading activities withdrew approximately $2,038,600 in margin before the price plummeted, leading to HLP taking over a large number of XPL long positions.HLP ultimately took over about 160 million XPL and completed the sale within approximately 75 minutes, incurring a loss of about $555,787, equivalent to 55.6% of the clearing vault's own funds. Investigations showed that 14 of the 16 wallets had connections in terms of funding sources or trading activities, with 12 wallets withdrawing funds in advance, contributing to 90.7% of the positions taken over by HLP. However, the investigation did not find direct evidence that these wallets caused the XPL crash, nor could it confirm whether they hedged on other trading platforms.It is worth noting that these 16 wallets did not profit from this event on Hyperliquid, collectively incurring a loss of about $711,000. Additionally, XPL had already dropped about 6% before the first liquidation occurred on Hyperliquid, so the liquidation was not the starting point of this crash, and the initial active selling volume of Binance perpetual contracts was also significantly larger.

According to on-chain data monitoring, the flash crash of XPL price caused Hyperliquid's HLP treasury to incur a loss of approximately $556,000.Previously, 16 wallets funded through centralized exchanges had been continuously building long positions in XPL since October 29, holding a total of about 269 million XPL, with a nominal exposure of approximately $23 million. Among them, the funds of 14 wallets were transferred from Binance about two months ago, with 12 wallets withdrawing approximately 2.02 million USDC before the price drop to reduce margin exposure.As XPL rapidly fell from $0.086431 to $0.069429, it triggered a chain liquidation of long positions. After the liquidation, the HLP treasury passively took over approximately 160.39 million XPL long positions, with an average holding cost of $0.07592, and a nominal value of about $12.18 million. The HLP treasury ultimately closed at $0.0725, recording a loss of approximately $556,000.

Bitcoin Core has discovered 3 new vulnerabilities, one of which allows attackers to remotely crash nodes. This vulnerability can affect nodes running Windows, macOS, or BSD by exhausting memory, while Linux nodes are not affected by this attack.Another vulnerability can gradually deplete node memory, and the third may corrupt blockchain rollback data.

Semiconductor analyst Jukan shares a commentary translated into English by him, authored by a salesperson from a local Chinese sell-side institution. The individual states: In mid to late September, hardware quickly transitioned into a downward wave, with China and South Korea adjusting first, experiencing deeper declines and longer durations, followed by Japan, Taiwan, and the semiconductor ETF SOXX weakening subsequently; there is significant divergence in the market regarding whether AI is entering a mid-cycle collapse, but there is less controversy about the industry still advancing.The individual summarizes the views of interviewed investors: High long-term interest rates in the U.S., capital expenditures beginning to rely on external financing and competing for funds in the market, multi-layered leverage accumulation, and tight funding are the main reasons for this round of decline, with companies like CoreWeave experiencing a noticeable deterioration in financing structure and cost burden. Model invocation prices are decreasing, but capital expenditures and supply chain costs are difficult to reduce quickly, making short-term investment returns hard to realize. ASML and TSMC's guidance this season is strong, but near-term pressures cannot be ruled out; the bullwhip effect and differences in value chain levels may cause volatility to be greater than expected.The individual also mentions that use cases beyond coding are emerging in scenarios such as SaaS and AI drug development, which may gradually alleviate investment return concerns and expand demand. His personal judgment: Before more evidence emerges, the current situation resembles a high-volatility phase rather than a collapse that has already begun; the decline may not yet be over, and hardware leadership may give way to applications. Even if control of both houses changes in the midterm elections, the impact may mainly be limited to constraints on certain data center projects, and the U.S. earnings season needs to verify the performance of large technology companies.

The trading execution platform Tread.fi CEO DYJ published an analysis of the flash crash of AI concept stocks' perpetual contracts in the US stock market early in the morning, stating that the sell-off began at Binance. A trader liquidated approximately 2 million dollars of SanDisk long positions, triggering a sharp decline in other markets due to the thin depth of the order book.According to the transaction timeline listed, a large amount of active selling first appeared on SNDK at Binance, with a transaction amount of about 407,000 dollars in the first second, followed by about 1,030,000 dollars in the next second, and MU also began to see selling in the same second. Hyperliquid then saw sweeping orders, with about 10 addresses submitting IOC sell orders concentrated on SNDK, SOXL, DRAM, SKHX, SKHY, and MU within 1.8 seconds, followed by a second round of synchronized selling. These orders were all used to open new short positions, rather than just reducing positions.In the minute of the first concentrated selling, the transaction amounts for SNDK and MU on Binance were approximately 21.9 million dollars and 5.1 million dollars, respectively, while the corresponding transaction amounts on Trade.xyz were about 3.1 million dollars and 300,000 dollars. The transaction amount for MU on Hyperliquid subsequently expanded to 10.8 million dollars and 9.5 million dollars within the next two minutes, which DYJ attributed to chain liquidation.

According to CoinDesk, it has been one year since the "1011 crash" that triggered approximately $19 billion in leveraged liquidations in the crypto market. Analysts warn that the potential structural risks that caused this flash crash still exist.In October 2025, Bitcoin experienced a sudden flash crash just days after reaching a historic high of over $126,000, plummeting from around $122,000 to $105,000 in a short period, leading to a concentrated liquidation of large leveraged long positions.Mark Connors, an analyst at Risk Dimensions, pointed out that recent short-term price movements are still highly driven by derivatives such as perpetual contracts rather than on-chain data. The exchanges' inclination towards high-leverage products has also failed to eliminate the risks of flash crashes; moreover, the traditional four-year halving cycle has changed, with macroeconomic and political forces playing a more critical role.Chris Sullivan, co-founder of Hyperion Decimus, suggested that traders should avoid excessive leverage, closely monitor open interest, funding rates, and market sentiment indicators, while long-term investors should consider moving their assets off trading platforms to self-custody.

Eric Trump, the second son of Donald Trump, posted on X mocking Hunter Biden's cryptocurrency failure, stating, "Hunter Biden should go back to painting."After the launch of the meme coin LAPTOP issued by Hunter Biden on the Base chain today, it experienced a dramatic drop, with a decline of up to 99%.