In a recent roundtable discussion, macro researcher Adam, CoinEx institutional business researcher Conley Wang, and macro hedge fund PM Albert Luxon delved into the October 11 crypto market crash. The panel identified Binance's high leverage strategies and USDe circular lending as potential causes of the market's severe volatility. The experts examined issues such as market mechanism failures, leverage risks, and liquidation processes, comparing the event to past incidents like March 12 and May 19. The discussion also explored the implications for the future landscape of the crypto market, highlighting the need for improved risk management and regulatory oversight.