Crypto Market Suffers Record $19.3B Liquidations in Historic October Crash
Crypto Market Suffers Record $19.3B Liquidations in Historic October Crash
💥 Record $19B Liquidation
The crypto market experienced its largest liquidation event in history on October 10, with $19.3 billion wiped out in forced position closures.
This massive liquidation event dwarfs previous major crypto crashes:
- 16x larger than the COVID-19 crash ($1.2B)
- 12x larger than the FTX collapse ($1.6B)
The carnage began with $8 billion liquidated in just one hour, setting the stage for the record-breaking total.
Key Impact:
- Leveraged positions across all major exchanges were forcibly closed
- Both long and short positions were affected
- Market volatility reached extreme levels
This liquidation cascade represents the most severe deleveraging event in cryptocurrency history, highlighting the risks of high-leverage trading in volatile markets.
🤝 Assemble AI Partners with UQUID to Bridge AI Insights and Web3 Commerce
**Assemble AI** has partnered with **UQUID** to connect AI-powered crypto insights with real-world Web3 utility. **Key Partnership Elements:** - Assemble AI's NS3 Agent transforms crypto news into interactive learning experiences - Users can stay informed and **earn through engagement** - UQUID offers 178M+ products with seamless on-chain payments - Integration bridges AI intelligence with Web3 usability **What's Coming:** - Shared initiatives across both platforms - Integrated experiences for deeper user engagement - New opportunities to access valuable insights - Enhanced discovery tools for both ecosystems This collaboration follows Assemble AI's previous partnership with AIDA, showing continued expansion of their AI-powered news platform into broader Web3 applications. *Stay tuned for upcoming announcements about specific features and launch dates.*
🔗 ChainGPT News Integrates with Assemble AI
**ChainGPT News** is now integrated inside **Assemble AI**, creating a new collaboration between the two platforms. **Integration Quest Details:** - Active on Galxe platform with $400 prize pool - Leaderboard currently running - Open entries for participants Users can explore the new feature and engage across both communities as part of the launch celebration. **How to Participate:** - Join the quest on [Galxe](https://app.galxe.com/quest/AssembleProtocol/GCCSit87Af) - Compete for prizes while exploring the integration - Engage with both Assemble AI and ChainGPT communities This integration builds on Assemble AI's recent success, having reached **3rd place** on Galxe Starboard rankings thanks to strong community support. *Secure your spot now to compete for the $400 prize pool.*
USDA Confirms No Legal Path to Extend SNAP Benefits Past November 1 Deadline
The **USDA has officially confirmed** there is no legal mechanism to extend SNAP (food stamp) funding beyond November 1 without Congressional action. **Key Points:** - Food assistance for millions of Americans faces immediate cutoff - State governors have issued warnings to SNAP recipients - Some states are taking independent action to continue food aid during potential federal shutdown - Congressional intervention required to prevent benefit suspension **Impact:** This affects the primary food assistance program serving low-income families across the United States. The timing creates urgency as the November 1 deadline approaches with no clear resolution from Congress. State-level responses vary, with some governors preparing contingency plans to maintain food security for vulnerable populations during any federal funding gap.
Microsoft Acquires 27% OpenAI Stake for $135B Valuation
**Microsoft has acquired a 27% stake in OpenAI**, valuing the AI company at **$135 billion**. Key details: - Microsoft gains **AI model rights through 2032** - Deal represents one of the largest AI investments to date - Strengthens Microsoft's position in the AI race This acquisition builds on Microsoft's previous investments in OpenAI and secures long-term access to cutting-edge AI technology. The partnership positions both companies to compete more effectively against other tech giants in the rapidly evolving AI landscape. The deal highlights the **massive valuations** now being placed on leading AI companies as the technology becomes increasingly central to business operations.
Japan's $2T Payment Giant TIS Launches Multi-Token Platform with Avalanche
**Major Corporate Adoption Alert** Japan's TIS, a massive $2 trillion payment processing company, has officially launched a multi-token platform integrated with Avalanche ($AVAX). **Key Details:** - TIS represents one of Japan's largest payment infrastructure providers - The platform supports multiple tokens, with AVAX as a key integration - This marks significant institutional adoption in Japan's financial sector **Market Context:** This development follows the Avalanche Foundation's previous plans to raise $1 billion for US crypto treasury firms to purchase discounted AVAX tokens. **Why This Matters:** The integration demonstrates growing enterprise-level adoption of blockchain payment solutions in traditional Japanese finance, potentially opening doors for broader crypto acceptance in the region's payment ecosystem.