Does CZ’s endorsement really matter for TWT’s price?

Yes — CZ’s comments historically move markets. His backing adds credibility to TWT’s 2030 roadmap and attracts Binance’s massive user base, giving the rally more weight than just a technical breakout.

Why did Exodus stock jump while most U.S. equities lagged?

Exodus is the first U.S. firm to tokenize its stock. Recent partnerships expanding tokenization beyond Algorand make it a unique equity play in blockchain adoption — giving it momentum even in a sluggish stock market.

What’s behind the heavy sell pressure on BARD despite big exchange listings?

Large allocations to early holders and airdrops meant 40 million tokens hit the market at once. The sell-off reflects distribution dynamics, not lack of exchange support, showing why tokenomics matter more than hype.

Why are traders calling $ASTER a potential rival to Hyperliquid?

$ASTER combines perpetual futures trading with yield features from Astherus. Backing from Binance and a spike in TVL above $650 million make it one of the few new DeFi projects showing immediate real traction.

What Happened in the Crypto Market Today?

Today was a fast-moving day in crypto news, with news on the recent crypto crash and the following developments moving the market.

Below is a breakdown of the major developments you should watch and what they mean.

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How Tariffs, Leverage, and Binance Sparked the Biggest Crash Yet

Markets run on trust and in crypto, that trust can vanish in minutes. On Oct. 10, the digital asset market saw its largest-ever liquidation event, wiping out over $40 billion in 24 hours.

The crash began as a reaction to President Trump’s surprise 100% tariff announcement on Chinese imports, but quickly escalated into a broader market rout.

Bitcoin plunged from $126,000 to $102,000, Ethereum fell 16%, and altcoins lost up to 50% of their value. Traditional markets were also shaken, with the S&P 500 dropping 2.7%, recording its worst day of the year.

Crypto leverage traders lost $7 billion in an hour. | Credit: DBNews on X

However, deeper analysis suggests the collapse wasn’t just political panic. Traders spotted anomalies on Binance, where the stablecoin USDe briefly fell to $0.65, triggering forced liquidations through its internal collateral system.

A $60-90 million dump in USDe reportedly cascaded into $40 billion in total losses, while wallets holding $1.1 billion in short positions profited heavily.

Binance denied system failures but later compensated users with $283 million.

The event highlights crypto’s lingering fragility — a mix of high leverage, exchange dependence, and global policy shocks that can turn a tweet into a trillion-dollar tremor.

WazirX Wins Court Approval for $235M Hack Repayment Plan

Over a year after one of Asia’s biggest crypto hacks, WazirX has received approval from Singapore’s High Court to move ahead with its restructuring and victim repayment plan.

The Indian exchange will repay about 55% of lost assets, split between cash and crypto (52%) and recovery tokens (48%) linked to future earnings. Trading and withdrawals, frozen since the $235 million breach, may resume soon.

Most users accepted the plan over a lengthy liquidation process, though critics note repayments are pegged to July 2024 prices, meaning users won’t benefit from recent crypto gains.

WazirX CEO Nischal Shetty said the ruling marks “the next phase” for rebuilding the exchange and restoring trust — a key test for how Asian courts and platforms handle large-scale crypto failures.

Whale Behind $192M Crypto Short Opens New Bet Against Bitcoin

A crypto whale who earned $192 million shorting the market just before Trump’s tariff announcement is back with another massive bearish bet.

The trader, known as 0xb317 on Hyperliquid, has opened a $163 million leveraged short on Bitcoin, currently up about $3.5 million but set for liquidation if BTC hits $125,500.

The timing of their previous trade, minutes before the market crash, sparked accusations of insider trading and manipulation. Observers claim the whale may have helped trigger the cascade that erased billions from crypto markets.

The Wallet ID is 0xb317. The name is Garrett. The trade is massive. This "Hyperliquid Whale," with a history tied to old exchange scams, just executed a 🤯 $4 BILLION shift from $BTC to $ETH. Is he strategically going big on $ETH staking (via his firm XHash) or is the goal to… pic.twitter.com/NbaBxu9hIv

— Rose 🌹 (@rosycutee2) October 13, 2025

Meanwhile, Binance denied playing any role in the meltdown, insisting its systems remained operational despite reports of failed stop-losses and token depegs. The exchange has offered $283 million in compensation to affected traders.

White House Weighs Pardon for Binance Founder CZ

The Trump administration is reportedly considering a pardon for Binance co-founder Changpeng “CZ” Zhao, who served four months in prison after pleading guilty to a violation of the U.S. Bank Secrecy Act in 2024.

Fox correspondent Charles Gasparino said Trump insiders view the case as “weak” and are “leaning toward a pardon,” which could allow Zhao to return to a leadership role at Binance, where he remains the largest shareholder.

Zhao responded on X, saying, “Great news if true,” while clarifying he faced no fraud charges and was convicted only of a single BSA violation.

Thank you Charles. Great news if true. 🙏🙏🙏🙏

Minor correction, there were no "fraud" charges. I believe they (the DOJ under the last administration) looked very hard for it, but didn't find any.

I pleaded to a single violation of Banking Secrecy Act (BSA). 🙏

— CZ 🔶 BNB (@cz_binance) October 10, 2025

A decision has not yet been made, and some in the White House reportedly worry about the optics of a pardon given Trump’s crypto business ties. Zhao’s case stemmed from a $4.3 billion settlement between Binance and U.S. authorities following increased scrutiny after the FTX collapse.

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Conclusion

Today’s whirlwind of developments underscores just how quickly the crypto landscape can shift, from market-shaking crashes and court rulings to high-stakes trading plays and political moves.

The Oct. 10 meltdown revealed the fragility of leveraged markets and the outsized influence of centralized exchanges, while WazirX’s restructuring shows how recovery efforts are slowly maturing in Asia.

At the same time, traders and policymakers alike continue to test crypto’s boundaries, whether through billion-dollar shorts or potential presidential pardons.

What Happened in the Crypto Market Today? Daily Market Recap

How Tariffs, Leverage, and Binance Sparked the Biggest Crash Yet

WazirX Wins Court Approval for $235M Hack Repayment Plan

Conclusion