Gm frENS. It's been rough to say the least. Today's brief goes slightly beyond Ethereum. Keep your head up and keep building! This also marks our 800th episode!
$19b in crypto liquidations
Aave executes $180m in liquidations.
A whale nets $192 million in profits.
Keyring launches a donation vault.
The cryptocurrency market suffered a historic $19 billion liquidation event on Friday, October 10, 2025, marking the largest in its history, surpassing the Covid, FTX, and Luna crashes. Long positions accounted for $16.6 billion, with shorts losing $2.4 billion, including $5.5 billion wiped out in a single hour. The crash intensified after President Trump announced
Roughly thirty minutes before President Trump’s October 10, 2025, announcement of 100% tariffs on Chinese imports, a newly created Hyperliquid account opened massive short positions on BTC and ETH with 8-12x leverage. The trades, executed on the decentralized perps exchange, netted $192 million in profits within hours amid the crypto market crash. The precise timing of the trade has sparked allegations of insider trading.
Aave, the leading DeFi protocol with over $40 billion in TVL, processed $180 million in liquidations in a one-hour period during the historic crypto market crash triggered by Trump’s 100% tariff announcement on Chinese imports. Founder Stani Kulechov praised Aave’s flawless performance, marking the largest single-day stress test for the DeFi protocol. The AAVE token itself plummeted 64% in the flash crash, but has mostly recovered since.
The Ethereum Foundation’s Funding Coordination Team, in partnership with Keyring Network, launched a donation initiative to support the legal defense of Tornado Cash developers Roman Storm and Alexey Pertsev. Over the next two months, 100% of protocol fees from Keyring’s zkVerified vaults on the Ethereum mainnet will be allocated to their legal defense funds. Keyring’s zkVerified permissioned vaults enable compliant, privacy-preserving DeFi lending. Users can deposit USDC into these vaults to earn rewards, while the collected fees are directed to support the privacy-focused developers. So far, the vaults have generated $22,109.52 in fees.
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Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.
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In today's blog post, @ethdaily.eth highlights a historic $19 billion liquidation in the crypto market precipitated by President Trump's unexpected tariffs. A whale capitalized on the crash, making $192 million in profits shortly before while Aave handled $180 million in liquidations. Additionally, the Ethereum Foundation and Keyring Network launched a support initiative for the legal defense of Tornado Cash developers. Despite these challenges, resilience shines through: keep building!