Not Binance: Bitcoin Analyst Who Bought At $1 Reveals Cause of the October 10 Crash

In the aftermath of the October 10, 2025, cryptocurrency market crash, veteran Bitcoin adopter Davinci Jeremie has pointed to the Trump family's interests as a potential cause, rather than the widely blamed Binance exchange. Jeremie explains the expertise of wealthy market players and contrasts their long-term strategy with the more immediate approaches taken by retail investors.

Key Takeaways

Davinci Jeremie attributes the October 10 crypto crash to the financial interests of the Trump family, not Binance.
The crash involved over $19 billion in liquidations and was influenced by Donald Trump announcing increased tariffs.
While many viewed Binance as the main culprit, Jeremie believes the motivations of wealthy investors shaped the event's outcomes.
Jeremie, an early Bitcoin investor, gained recognition for advising others to buy Bitcoin when it was valued around $1.

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Davinci Jeremie’s Insights on the October 10 Crash

The October 10, 2025, crash in the cryptocurrency market is a heavily discussed topic, with traders divided on its true cause. Various theories have emerged, some attributing the collapse to liquidation events at Binance, while others suggest it was the result of strategic sell-offs. Jeremie shared his thoughts during an appearance on The Sujal Show, arguing that political and financial motivations from the Trump family played a key role in what unfolded.

Jeremie stated, “I think obviously the Trump family. It’s clear right now that the Trump family wants to push crypto down so that they can get as much as they want.” He elaborated on how wealthier investors view markets differently than retail traders. According to him, retail participants often seek quick profits, while larger investors tend to adopt more patient, long-term strategies. “If you’re wealthy, you don’t think in short terms as most people do; you think in long terms,” he remarked.

The Dominant Binance Theory

Jeremie’s perspective contrasts sharply with the more widely accepted narrative concerning Binance, which gained traction in the aftermath of the October crash. On that day, a staggering $19 billion worth of leveraged positions were liquidated in just 24 hours. The sell-off started after Donald Trump announced plans to impose a 100% tariff on Chinese imports, prompting traders to offload riskier assets, including Bitcoin. The impact on the crypto market was particularly severe.

Following the chaotic events, Binance quickly became a focal point for speculation. Many analysts pointed to the cascading liquidations on its derivatives platform as a primary factor behind the crash. OKX CEO Star Xu further fueled the discussion by criticizing Binance's promotional campaign that offered a 12% annual percentage yield (APY) on USDe. He argued that this promotion blurred the boundaries between USDe and established stablecoins such as USDT and USDC, leaving retail investors unaware of the potential dangers associated with synthetic stablecoins.

Jeremie, recognized as one of Bitcoin’s earliest proponents, first entered the market when Bitcoin was priced around $1. His prominence surged after a viral YouTube video of him urging viewers to purchase at least $1 worth of Bitcoin gained traction, solidifying his place in crypto history.

Bitcoin BTC trading at $67,760 on the daily chart | Source: BTCUSDT on Tradingview.com