Bankless

ROLLUP: $19B Flash Crash | Binance Fee Leak | China L2 on ETH | $14B BTC Reserve

75 snips
Oct 17, 2025
A staggering $19 billion was wiped out in a single day, causing uproar in the crypto world. The hosts dive into the causes of the Friday flash crash, including a suspicious tweet and market liquidity issues. They discuss Binance's leaked listing fees, the growing role of decentralized exchanges, and a major Chinese tech company launching on Ethereum. Additionally, there's buzz about the U.S. potentially adding $14 billion in Bitcoin to its strategic reserve, alongside rising regulatory pressure on DeFi efforts.
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INSIGHT

BlackRock's Tokenization Thesis

  • Larry Fink sees tokenization as the next multi-decade wave and aims to digitize ETFs and money market products.
  • Big asset managers plan to repack traditional assets on-chain and capture global retail flows.
INSIGHT

Stablecoins Could Leak Bank Deposits

  • The U.S. Treasury models significant deposit leakage into stablecoins under a tokenized future.
  • Stablecoins could unbundle bank deposit and payment economics, pressuring traditional deposit rent models.
INSIGHT

Why Friday Turned Into A Flash Crash

  • The October flash crash was amplified by weekend timing, Binance API failures, and pulled market-making liquidity.
  • High perp leverage and perp DEX open interest turned a news shock into a $19B liquidation cascade.
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