Hi guys, welcome to what happened in crypto yesterday. Here’s where we give you a quick roundup of all that transpired in the crypto and blockchain space. It was a rough start to the weekend as crypto markets saw intense news flow, from Bitcoin price pressure and the blame game on the 10/10 crypto crash to a major legal fight involving one of the biggest U.S. exchanges. Here are the three biggest developments.
Bitcoin Crashes Below $76k, Strategy’s BTC Reserve Turns Negative
First, Bitcoin took a brutal hit, crashing over 7% in weekend trading and dipping below $76,000. This is the weakest it’s been since April 2025, when it dropped to $74,000 levels. Low liquidity amplified the sell-off, leading to around $800 million in position liquidations. On-chain data shows BTC falling below its “true market mean” cost basis of around ($80k), a key technical metric.
This drop also caused temporary losses for Michael Saylor-led Strategy, which saw its massive BTC holdings go underwater against a ~$76,037 cost basis. Strategy’s stock tanked over and analysts have warned that this breach of key supports could signal more pain ahead for short- to medium-term price action.
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CZ Pushes Back on Claims that Binance Fueled $19B Market Crash on 10/10
In a live AMA, Binance’s former CEO Changpeng ‘CZ’ Zhao rejected accusations that Binance single-handedly fueled the massive $19 billion crypto market wipeout that occurred on 10th October, 2025. He called the blame exaggerated, pointing to widespread industry leverage and risks across exchanges. CZ acknowledged that there were technical glitches and price anomalies at the time, but also said that the exchange had compensated users and institutions to the tune of $600 million. CZ emphasized that multiple factors contribute to big sell-offs, and one player alone cannot bear the blame.
Coinbase Insider Trading Lawsuit Moves Forward Against Brian Armstrong and Board Members
A shareholder lawsuit from 2023 has come back to haunt Coinbase CEO Brian Armstrong and a few of its board members. A Delaware court has decided to proceed with the shareholder lawsuit, which accused the exchange and its board of insider trading. The plaintiffs argue that insiders used confidential information to sell roughly $2.9 billion in stock around Coinbase’s 2021 direct listing to avoid over $1 billion in losses. They claim Armstrong dumped ~$292 million, while Marc Andreessen sold ~$118.7 million, to dodge losses from an inflated valuation without lockups. Coinbase has denied wrongdoing and said it will defend the case.
These stories show us both the market stress and ongoing structural debates: Bitcoin’s volatility, narratives around exchange influence, and rising legal scrutiny on insider behavior. All this could shape sentiment and regulatory focus in the weeks ahead. Yesterday’s dip shows how fast things can swing. So stay tuned, and always DYOR!
