A veteran Bitcoin evangelist, who entered the market when most people had never heard the word “blockchain,” is now pointing the finger at the Trump family, and not the cryptocurrency exchange, as many believe, for the liquidation chaos that rocked the cryptocurrency industry last October.
DaVinci Jeremy, one of the first well-known Bitcoin users, recently shared his candid opinion on what he said Believed to have caused it October 10, 2025, plane crash.
What DaVinci Jeremy actually thinks
October 10, 2025, cryptocurrency market crash It is one of the most controversial Events of the current cycle, where traders are still divided about the real reasons for the sudden collapse in prices. In the months since, many theories have emerged, ranging from Binance-led liquidations to liquidations Coordinated sales attacks.
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Speaking on the Sogal programme, Jeremy made a point That was politically charged. In his opinion, Trump family financial interests Providing a simpler explanation of what happened to the cryptocurrency market that day.
“I think clearly the Trump family. It’s clear now that the Trump family wants to devalue cryptocurrencies so they can get as much as they want,” Jeremy said.
According to early Bitcoin believers, wealthy participants approach the markets differently. As he puts it, retail behavior is dominated by short-term thinking, with many looking for quick gains or quick fortunes. However, the big players operate on extended timelines, often five to ten years. “If you’re rich, you don’t think short-term like most people do; you think long-term,” he said.
The Binance Theory That Captured Cryptocurrencies
Jeremy’s position flies in the face of the interpretation that has dominated industry discourse in the months since October 10.
The October 2025 crypto crash, particularly on October 10, saw over $19 billion worth of leveraged positions liquidated within 24 hours. The sell-off began shortly after Donald Trump’s signal Plan for additional charges 100% tariff on Chinese imports. This has prompted traders to dump risky investments, from stocks to Bitcoin. However, this collapse was more pronounced in the cryptocurrency market than expected.
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after in the wake of After the crash, a lot of attention was directed to the cryptocurrency exchange Binance. The exchange quickly became the focal point of speculation, with many pointing to a series of liquidations on its derivatives platform as the main cause of the collapse.
The theory was amplified after OKX CEO Star Xu He went public with His criticism, which was based on Binance’s promotional campaign that offered 12% APY on USDe.
According to Star Xu, the Binance campaign blurred the line between USDe and stablecoins like USDT and USDC, and retail investors were unaware of the systemic risks related to the synthetic stablecoin ecosystem.
davinci jeremy is known as One of the oldest Bitcoin adopters, having entered the market when Bitcoin was trading around $1. His reputation grew significantly years later when an old video surfaced on YouTube urging viewers to buy at least $1 worth of bitcoin. The clip has since become one of the most referenced moments in cryptocurrency history.
Featured image of Pngtree, chart from Tradingview.com
