Market Maker Balance Hole Caused by USDe Depeg on Binance

A USDe stablecoin depegging event on Binance on October 10 triggered liquidations, causing market makers to lose capital and creating a balance hole. This weakness in market makers, who act as central banks in crypto, has led to a reflexive cycle of reduced liquidity and downward price drift. The crypto industry must address this code error to restore liquidity and market recovery.