JUST IN: Crypto markets experienced $3 billion worth of liquidations in the past 12 hours.

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JUST IN: The cryptocurrency market has seen more than $550 billion wiped off its total capitalization in just seven hours after Trump announced increased tariffs on China.

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JUST IN: The odds of Bitcoin hitting $130,000 in October have fallen to 24% on Polymarket.

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JUST IN: Several of the top 100 cryptocurrencies by market capitalization have plummeted more than 40% in the past hour.

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JUST IN: Binance reports that high load on its systems from heavy market activity may cause intermittent delays or display issues for some users.

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JUST IN: Hyperliquid's HLP has generated more than $40 million in profits over the past 24 hours.

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JUST IN: The ATOM/USDT trading pair on Binance suffered a flash dump to $0.001 during a market crash.

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JUST IN: Ethena Labs confirms that the mint and redeem functionality has remained fully operational throughout with no downtime, and USDe continues to be overcollateralized.

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JUST IN: Coinbase is implementing a fix for transaction issues related to latency or degraded performance.

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JUST IN: Kamino confirms that, despite unprecedented price action, its users incurred a total of $0 bad debt, and the liquidation engine performed exactly as expected.

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JUST IN: Coinglass reports that its website was hit by a large-scale proxy attack earlier today, blocking users from viewing crypto liquidation data.

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JUST IN: Cobie describes the recent plunge in altcoins as one of the most severe flushes he's witnessed, expressing surprise at the extent of leverage involved and suggesting a major player was hit hard, with a potential large fallout emerging soon—reminiscent of summer 2021.

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JUST IN: Hyperliquid generated $20 million in fees over the past 24 hours.

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JUST IN: According to CoinGlass data, over $19 billion worth of crypto liquidations have taken place in the past 24 hours.

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JUST IN: Crypto liquidations on Hyperliquid in the past 24 hours have surpassed $10 billion, according to Coinglass data.

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JUST IN: Coinglass reports that the largest liquidation event in cryptocurrency history occurred today.

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JUST IN: Helius CEO Mert stated that the recent market dump was even greater than the COVID one, yet Solana performed remarkably well.

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JUST IN: Perp DEX Lighter is experiencing an outage in the last hour, caused by a technical issue from extremely high TPS over the past 12 hours. The team is working all hands on deck to fix the problem.

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JUST IN: Wintermute co-founder Yoann Turpin has requested that people stop sending direct messages inquiring about the firm's stability, emphasizing that Wintermute maintains a market neutral position with minimal leverage. He noted that while the venture portfolio is impacted, it carries zero leverage.

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