Tom Lee, speaking on "The Compound" podcast, highlighted that last October's deleveraging event was the largest in crypto history, surpassing the FTX collapse. A pricing vulnerability at a trading platform led to automatic liquidations, affecting over 2 million accounts and eliminating one-third of market makers. This event severely impacted the platform's balance sheet and the broader crypto ecosystem. Lee noted that selling pressure remains, with no clear recovery signs, unlike the 8-12 week rebound seen in 2022.