Episode 922

Crypto’s Black Friday Was Its Largest Liquidation Ever. What the Hell Happened?

After Trump posted that the U.S. would impose tariffs on China, all hell broke loose.

Crypto's Black Friday Was Its Largest Liquidation Ever. What the Hell Happened? - Ep. 922

Posted October 12, 2025 at 1:30 pm ET.

Listen to the episode on Apple Podcasts, Spotify, Pods, PumpFun, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

When Trump tweeted about 100% tariffs on China, crypto collapsed — $19 billion in liquidations in just hours.

Altcoins plunged 95%, exchanges froze, and stablecoins depegged. In this special episode, Diogenes Casares, founder of Klyra Protocol, joins Laura to break down the chain reaction: what really caused the crash, whether insiders knew it was coming, and how infrastructure failures and extreme leverage turned a policy tweet into crypto’s Black Friday.

Thank you to our sponsor, Aptos!

Guest:

- Diogenes Casares, founder of Klyra Protocol and advisor at Patagon Management

Links:

- Diogenes’s article on X: “Black Friday: What Happened?”
- Jordi Alexander on “What happened?
- Stani Kulechov on Aave’s performance
- Binance co-founder’s statement

Posted in: Markets

Tagged in: $19b crypto liquidations 100% tariffs cryptocurrency impact altcoins 95% plunge crypto black friday Diogenes Casares exchanges freeze stablecoins depeg infrastructure failures leverage losses insiders crash warning Klyra Protocol Laura Shin podcast policy tweet chain reaction trump china tariffs crypto crash trump tweet market reaction

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