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432 Crypto exchange boss blames Ethena’s USDe for October Crash, while traders hit back

CoinDesk
Shaurya Malwa @ CoinDesk · 01/31/2026 07:27 EDT

Crypto exchange boss blames Ethena’s USDe for October Crash, while traders hit back

Months after Oct. 10’s flash crash and liquidation cascade, a fresh spat has opened between exchange executives and market watchers over whether a leveraged yield loop, thin liquidity, or busted market plumbing did the real damage.

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