The actual liquidation amount in the market may exceed 40 billion US dollars, with HyperLiquid's liquidation amount alone nearing 7 billion US dollars.

Such a level of collapse in the early morning is caused by a chain liquidation triggered by cyclical loans, which can be considered a blowout; too many individuals and even several institutions used usde and bnsol as margin, and those who used wbeth and bnsol as collateral for unified accounts are now all in debt. Too many people are in the negative due to some interest; their accounts have been liquidated. This time, too many people have been affected, and the exchange will also compensate based on the relevant situation of usde, looking at the pattern of major exchanges.

【I've seen a lot of news saying that the zerobase of booster also puts users' staked funds on exchanges to leverage usde for interest, and if this wave of usde causes the project party to blow up, the 500 million user funds can only rely on Binance to bail them out】