On 10 October 2025, the cryptocurrency market endured one of its most brutal single-day sell-offs ever. Triggered initially by a sudden escalation in US–China trade tensions (and compounded by the systemic fragility of crypto’s leveraged ecosystem) the flash crash exposed enduring structural vulnerabilities, raising questions about whether the crypto boom has outgrown its risk management. The precipitating event came when the US announced sweeping tariffs on Chinese imports. That move rattled global markets, prompting a rush out of risk assets, and cryptocurrencies quickly bore the brunt. Within hours, the largest ... (full story)