What a crazy PA! It reminds me of 2020, but back then, only the halts in the native cryptocurrencies and BitMEX saved this chart. My best guess is that a major firm on Binance (possibly one that offers cross-margin trading in the crypto space) went bust. I'll wait for more analysis. We were heavily arbitrage trading USDe at the time, as it was almost at 0.6 on Binance, while holdings on other platforms were relatively stable. This is just a guide. There's also a huge disparity in trading volume between liquid and illiquid coins on Binance.