My god, a LOT has happened since the last newsletter.

If you're reading this, congratulations! You have officially survived the greatest liquidation event in crypto history, for the better or worse.

While October has been extremely painful for many, we must move forward, and look for the next opportunities, which despite some alts literally going to zero, were around.

Hot new narratives come and go, but we rarely see dinosaur coins add $5B to their mcap in days, $ZEC has garnered a lot of attention lately, and for good reasons.

Finally, we will go over Metadao's latest launch, and why they have been performing so well. Let's jump into it!

On October 10, 2025, the cryptocurrency market suffered the most violent implosions in its history. In just a few hours, nearly US $19.3 billion in leveraged positions were liquidated across major exchanges. Bitcoin dropped over 14 % in minutes, Ethereum briefly touched $1,200.

It's one of those things where; you just had to be there. Nothing, ever came close.

Billion dollar assets, with no liquidity, no bids, no books. Exchanges down, systems malfunctioning; for those 30 minutes, the crypto clock stopped ticking.

So what the fuck happened?

The speed and precision of the crash immediately raised eyebrows. Tariffs are nothing new, and while they caught everyone by surprise, the pattern of liquidations was far too sudden and concentrated to be organic.

The sharpest collapses occurred on exchanges that had recently announced upgrades to their oracle and margin-collateral systems, leaving a known vulnerability window.

Binance's systems reportedly glitched, blocking "ReduceOnly" orders meant to close positions during volatility, while APIs returned errors. This trapped traders, preventing hedging or exits, and caused collateral like USDe to depeg dramatically (e.g., to $0.65). Market makers pulled liquidity, hollowing out order books and turning a dip into a freefall.

It really couldn't be more suspicious, that the exchange that allegedly created this liquidation domino effect is the one backed by CZ, who recently has been shilling DEXs on BNB, and driving a gold rush for perp traders.

Open interest has never been so high, and farmers were out to earn aster rewards. It is even more suspicious, that the Trump family made billions off those liquidations, and had the audacity to offer a presidential pardon to CZ 2 weeks later.

While it's still too early to say what really happened on October 10, one thing is for sure: The hands behind this one are dirty.

This will likely be a crash that gets studied and revisited for a while, and has been an extremely expensive lesson for many, retail and institutional.

Businesses could be insolvent, market makers could have been liquidated; the real structural damage that was made has not been seen yet. While many CT legends like WhiteWhale and BonkGuy lost hundreds of millions, larger bodies could eventually float up.

It's been 2 weeks now, and things seem to be back to normal. Wether the true impact comes to bite us later, or this just flies over, is yet to be seen.

A lot was lost on that day, but crypto lives on, and so do we.

I'll leave you with this tweet from our friend Bonkguy, which puts a lot in perspective.

Link

For years, Zcash (ZEC) was the forgotten child of the crypto world; a project once hailed for its groundbreaking privacy technology, yet slowly buried under waves of new narratives.

When it launched in 2016, Zcash introduced something revolutionary: transactions that could be fully private using zero-knowledge proofs (zk-SNARKs). Unlike traditional blockchains, where every transaction is visible, Zcash allowed users to hide the sender, receiver, and amount entirely.

In the first weeks of it's launch in 2016, Zcash was trading at an eye watering valuation of over $30 Billion. People looked at it as a better Bitcoin, which back then hadn't caught on the "Store of value" narrative, and was just seen as a transacting mean.

But what do you know; the authorities did not like it. Regulators hated it, exchanges feared it, and over time, $ZEC faded from mainstream attention. With AML and KYC laws picking up, $ZEC got delisted and forgotten by most.

Until...

Zcash pumped more than 400% in a single month, rocketing from the low double digits to above $300. Amid the 10/10 meltdown, it jumped over 20%, becoming one of the most talked-about assets in the market.

One major reason is timing. The global narrative around crypto has shifted toward privacy with the launches of $UMBRA and $NYM, especially as governments tighten regulation and ramp up blockchain surveillance.

Another driver is scarcity, which is actually a feature of why $ZEC is fundamentally solid. On-chain data shows that an increasing amount of $ZEC is moving into its shielded pool, which effectively removes it from circulation.

The tokens moved to shielded pool effectively enable the privacy chain to operate (As liquidity providers). Less liquid supply means higher price pressure when demand kicks in. Combine that with growing speculative interest, and we have a runner.

Privacy coins remain in regulators’ crosshairs, and Zcash could face renewed exchange restrictions if the rally continues, on top of that, the network itself needs to pick up in terms of usage, since volume hasn't really been high.

The product is solid but maybe not $7 billion solid. Personally I don't see a good r/r at those levels, but beta plays like Umbra and NYM could be worth taking a look at.

MetaDAO has quickly become one of the most talked-about launch platforms in the Solana ecosystem; not because it raises the most money, but because it’s rethinking how decisions and launches are made.

At its core, MetaDAO is an experiment in decentralized governance through futarchy; a system where markets decide the best path forward. Its growing influence comes from the success of a few standout launches, including Umbra, Avici, and Omnipair.

The concept behind MetaDAO is simple but radical: instead of letting token holders vote on proposals, participants bet on outcomes.

When a new proposal is introduced, MetaDAO creates prediction markets around it. One market represents the proposal passing; another represents it failing. Traders then buy into whichever side they believe will make the DAO’s token more valuable.

The logic is that markets, driven by real money and informed speculation, can predict better than crowds or committees.

MetaDAO’s implementation of futarchy isn’t just theoretical; it’s live, shaping how projects get launched and funded. Thanks to it's open participation and transparent terms, MetaDAO has positioned itself as a new kind of incubator: fast, fair, and community-driven.

And the best part? It's all powered by $META; MetaDAO's governance token, which is required to participate. The futarchy system is new to the scene, but many big protocols have been trying it out.

a governance model that values economic truth over democratic compromise. Whether this system will scale beyond Solana or become a blueprint for future DAOs remains to be seen.

What’s clear is that MetaDAO has proven one thing: when you mix open markets, transparent governance, and community capital, even the most experimental ideas in crypto can find traction, and hell, make a lot of money.

[All topics are meant to be educational only. None of it is financial advice, please do your own research.]