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Crypto’s 10/10 market massacre wasn’t a fluke. It was a warning.
The crypto industry remains torn about who or what is to blame for the now-infamous liquidation flash crash that occurred four months ago on October 10, but if there was one definitive takeaway to be gleaned, it’s that perps are not safe under severe stress.
On that fateful day, many crypto exchanges that offer perpetual futures – including both 
Binance and 
Hyperliquid – forcibly “auto-deleveraged” their traders, refusing to pay out on profitable positions in an effort to preserve solvency.
Today, we’re exploring the problematic nature of perpetual futures and examining time-tested alternatives to leverage with less venue risk.
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