CZ Retweeted "Buy the Dip" Content

On October 11th, Brian Armstrong, the CEO of Coinbase, stated that starting from October 14th, they intended to conduct a $5000 limit test for users of their cryptocurrency debit card. They also planned to implement tiered transaction limits for low-risk users before the middle of next year, with the highest limit being $10,000 (or even $100,000).

On October 11th, Andrei Grachev, the managing partner of DWF Labs, stated: "The market crash today was not caused by fundamental factors like the breakdown of FTX. Instead, it was due to the tariff announcement and the subsequent leveraged liquidation. Market liquidity has been drained, but Bitcoin and strong projects are likely to recover soon."

On October 11th, Tom Lee, the chairman of BitMine which is Ethereum's first institutional investor, commented on today's market flash crash. He said, "The downturn was an expected occurrence. Since the April low, there has been a 36% gain. Today, the panic index VIX rose by 29% at one point, marking the 51st largest single-day fluctuation in history, representing the top 1% of extreme market conditions. Today's decline is a good shakeout. What I want to tell everyone is that the market is indeed a bit nervous. But unless there is a true structural change, this pullback is a buying opportunity. I can't confirm that today's market has bottomed out. But we know that in the current situation, the performance in the next week or even month will be good. If someone asks me how the market will perform in a week, I would say the probability of an uptrend is quite high."

On October 11th, as monitored by Onchain Lens, a whale deposited 6010 ETH into Binance. This deposit was valued at approximately $22.8 million. The whale has achieved a total profit of $78.98 million on their ETH holdings. The whale initially withdrew 86,001 ETH from Binance between June 22nd and August 12th, 2025. The price per ETH at that time was $3,047, and the total value of the withdrawn ETH was around $262 million. Currently, they still hold 64,981 ETH, which is valued at approximately $249.73 million.

October 11th. According to RBC-Ukraine, Konstantin Ganich, a 32-year-old Ukrainian cryptocurrency blogger (alias Kudo), passed away in Kyiv. The police discovered his body with a gunshot wound to the head inside a car, and a registered weapon was found next to him. Preliminary investigations suggest that it was a suicide. Kudo was a well-known cryptocurrency blogger and the CEO of Cryptology, providing financial and trading consulting and educational services. In a recent interview, Ganich mentioned that his partner had stolen his funds and disappeared. He had expressed to his family and friends that he was feeling emotionally down due to financial difficulties and had left a suicide note.

On October 11th, Ethena Labs officially launched a Proof of Reserve to address market doubts. It was stated that "The USDe Proof of Reserve is typically provided weekly by a third-party independent auditing firm, such as Chaos Labs, Chainlink, Llama Risk, and Harris & Trotter. In response to community demands, Ethena has provided an unusual rhythm Proof of Reserve based on market events in the past 24 hours, which can be accessed via the official link. These independent third parties have all confirmed that USDe still has approximately $66 million in excess collateral, and Ethena Labs is ensuring maximum transparency." This morning, Guy Young, the founder of Ethena Labs, responded to the online rumor that "Ethena is urgently raising funds to prevent a Luna event from recurring" and stated that this is completely untrue.