1/ What Are Your Rights When a Centralized Exchange Fails During a Market Meltdown?

The October 10 crypto liquidation event left many traders and investors blindsided. Evidence increasingly suggests that a single venue—Binance, the largest offshore crypto exchange globally—played a central role in amplifying the crash.

I figure it's helpful to share an informative thread on what users can do in such a situation given our experience.

Disclaimer: I am not a lawyer, and this is not legal advice. 2/ Background: What Happened on 10 Oct

During the sell-off on 10–11 October, prices on Binance led the drop and deviated sharply from those on other major exchanges, especially the USD fiat-based exchanges like Coinbase.

Large numbers of accounts were liquidated within minutes, with little to no chance to top up collateral—even when users had ample assets.

With Shapella's successful upgrade, a major technical risk of Ethereum is removed.

Market can now access near risk-free ETH denominated yield and have liquidity via liquid staking, expect staking% of 15% to double from here in one year and Lido capturing most of the growth. Lido is the greatest beneficiary of US's crypto hostility. gaining market share over the past few months, effectively absorbing (Binance + Coinbase + Kraken)’s market share loss. Expect this trend to continue as US continue to be hostile to crypto while decentralized alternatives

A (developing)thesis on current crypto market structure and why it leads to extreme volatility throughout the market cycles: 1/ Currently there is 4 broad category of market participants in crypto: retails, crypto hedge funds, crypto VC, institutions (Microstrategy etc)

But this also means crypto have run ahead of itself in terms of market development. A key category of market participants is missing.