This weekend’s crypto crash, triggered by President Trump’s surprise announcement of 100% tariffs on Chinese imports, was one of the most violent in the industry’s history. Between Friday night and Saturday morning (10th–11th October), over $19 billion in leveraged positions were liquidated, wiping out $560 billion in market value across Bitcoin, Ethereum, and countless altcoins. Bitcoin plunged from its recent all-time high of $126,000 to under $105,000 before recovering slightly. Ethereum, Solana, XRP, and Dogecoin saw similar or worse declines, with some altcoins briefly losing over 90% of their value.
This flash crash was not just a financial event—it was a stark reminder of how fragile and exclusionary our systems can be when they prioritize speculation over substance. Millions of traders were caught off guard, and many retail participants, especially those using high leverage—were left exposed. The speed and scale of the collapse revealed deep vulnerabilities in centralized exchanges, price oracles, and synthetic token markets.
In moments like these, I’m reminded why I work in this space, not to chase volatility, but to build technology that serves people.
At banxlocal.uk and through my broader ventures, I focus on human-centric blockchain solutions. That means designing systems that are inclusive, accessible, and grounded in real-world utility. Too often, financial and tech platforms are built for the few—those with capital, technical fluency, or physical ability to navigate complex interfaces. The rest are left behind.
I believe innovation must be empathetic. Whether it’s ensuring our platforms are usable by those with visual impairments or making tokenised equity offerings understandable to non-technical investors, the goal is always the same: build for everyone.
This weekend’s crash also underscores the importance of resilience. While markets may recover, the human cost, lost savings, shattered trust, and emotional stress, is harder to quantify. That’s why I advocate for transparent governance, education-first onboarding, and community-driven design in every blockchain product I touch.
Technology should empower, not intimidate. Finance should include, not exclude.
As we move forward from this turbulent moment, let’s not just rebuild the market. Let’s rebuild it better—with people at the centre.
