Although around this time last year, someone wrote a eulogy to commemorate Binance's liquidity pull and the wick incident, that malicious act left many brothers struggling to recover even now. But today’s wick in the US stock market is, in all likelihood, not Binance’s fault, though it does have some connection to Binance. The situation began early this morning when Binance’s solana:8t5C4AWDg4CroMChxdo7rG2e8nJM31QG2GG7Czx9X7x2 and MU saw large sell orders. The semiconductor storage sector in the US stock market showed a significant correlation, similar to how most altcoins follow $BTC’s movements. This triggered a chain reaction of liquidations in the semiconductor sector. Since Binance’s US stock liquidity is better compared to other platforms, users chose to close longs or dump positions on Binance. With weekend liquidity being low, the deviation between Binance’s US stock marked price and index price reached a maximum of ±3%, which is Binance’s own rule. They also switched US stock pricing to an order book EWMA model. So, even a slight dump by users—regardless of whether the US stock market is open on the weekend—can cause price deviations. This has nothing to do with whether the US stock market is open or not but is related to liquidity and Binance’s current rules. This presents a clear structural risk that, as of now, cannot be avoided. It’s just that users chose to sell off on Binance first, causing price deviations there, which led to a chain reaction of liquidations and price drops. But this isn’t a reason to pin the blame entirely on Binance. This isn’t an attempt to whitewash Binance, because I’ve always wanted to write a eulogy for the Binance brothers on October 10th. Unfortunately, my skills are limited, and I haven’t been able to write it yet. Thinking back to these days last year—what a tragedy!