The crypto market experienced a drastic $19 billion drop on Saturday, October 11th, prompting concerns about the role of Binance, one of the industry’s largest exchanges. Crypto analyst Pepesso has investigated the events and outlined a complex series of actions that likely contributed to the crash. His analysis suggests that Binance internal systems played a key role in triggering the sell-off, despite external factors like geopolitical tensions contributing to market volatility. Pepesso highlighted how Whale inflows, stablecoin flow into Binance hot wallets, technical glitches on trading pairs, and the Unified Account system manipulation all contributed to destabilizing the market. These actions led to forced liquidations across various assets including USDe, wBETH, and BNSOL on Binance, causing a significant decrease in prices on other exchanges where liquidity remained strong. The crash came as Binance reacted quickly with compensation payments and delays in oracle updates, prompting further scrutiny about the exchange’s behavior. While Pepesso attributes some of the market movement to strategic manipulation by Binance, other experts like curb.sol have warned users to remove funds from Binance as a precautionary measure, citing potential for extreme legal actions by the FBI and a freeze on withdrawals for several years. This could lead to $100 billion+ in losses. These events expose the vulnerability of centralized exchanges to internal manipulations and raise questions about their role in shaping market dynamics.