Dragonfly partner Haseeb has publicly challenged Star Xu's assertion that the October 10 market crash was caused by Binance and Ethena. Haseeb argues that the causation is unfounded, noting that Bitcoin bottomed out first and USDe's deviation was limited to Binance without spreading across exchanges, which fails to explain the simultaneous market-wide liquidation. He suggests a more plausible explanation involves macroeconomic shocks combined with exchange API failures, leading to market-making breakdowns, liquidity vacuums, and cascading liquidations. Haseeb emphasizes that such events lack a single culprit and resemble systemic failures of microstructures at critical moments.