Arthur Hayes Links Altcoin Crash to CEX Liquidations

Crypto markets experienced a catastrophic $670 billion loss in a single day due to a sharp selloff, with Arthur Hayes attributing the event partly to automatic liquidations on centralized exchanges (CEXs). Hayes notes that these liquidations, triggered by cross-margined trading, led to a rapid decline across several altcoins. His analysis highlights how these automated processes amplify market volatility, as seen during Friday’s sudden market crash.