Great recap: OKX basically believes 10/10 happened because too many users on Binance used USDe as collateral to borrow USDT and looped it several times. When USDe started to depeg, a liquidation cascade followed - sending some altcoins basically to zero.
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Great recap: OKX basically believes 10/10 happened because too many users on Binance used USDe as collateral to borrow USDT and looped it several times. When USDe started to depeg, a liquidation cascade followed - sending some altcoins basically to zero.