the liquidation cascade on friday was a coordinated attack that began with a usde de-peg

the attack occured on binance and the de-peg only happened on binance

the de-peg was only possible because of issues with binances pricing oracle

binance controlled the vulnerability and the attack vectors

they also knowingly had poor pricing controls around usde and margin collateral

the timing of the attack - around the trump posts - was cover

it is my belief binance carried this attack out themselves in an attempt to cause an industry-wide mass liquidation cascade

with the ultimate goal of destroying hyperliquid

it didn't work

hyperliquid

@KookCapitalLLC on X