In today’s crypto news, Zcash has rebounded to pre-crash levels, Crypto.com CEO Kris Marszalek has urged regulators to investigate exchanges following $20 billion in liquidations, and Bitcoin’s price could face increased volatility in the upcoming days.
Zcash recovers to pre-crash levels
The price of Zcash (ZEC) has bounced back to pre-crash highs, reaching approximately $293 on Saturday after a rapid flash crash on Friday that saw $20 billion in liquidations within 24 hours.
As of this writing, Zcash is trading at around $293 per coin, recovering after a 45% drop on Friday; this resurgence differentiates it from most altcoins, which experienced double-digit declines extending into Saturday.
Many altcoins lost as much as 95% of their value on Friday, following US President Donald Trump’s announcement of increased tariffs on China.
This crash marks the fastest and most severe liquidation event in crypto history, highlighting the risks associated with leveraged trading.
Crypto.com CEO demands investigation into exchanges after $20B liquidations
Crypto.com CEO Kris Marszalek has called for a regulatory investigation into exchanges that faced the most significant losses following a record $20 billion in liquidations over the last 24 hours.
In a post on X on Saturday, Marszalek urged regulators to “conduct a thorough review of fairness of practices,” questioning whether trading platforms had slowed down, mispriced assets, or neglected proper anti-manipulation and compliance controls during the crash.
“Regulators should scrutinize the exchanges that had the highest liquidations in the last 24 hours,” he stated. “Did any of them come to a standstill, effectively preventing trading? Were all trades accurately priced in accordance with indexes?”
According to data from CoinGlass, Hyperliquid led in liquidations with $10.31 billion in wiped-out positions, followed by Bybit at $4.65 billion and Binance at $2.41 billion. Other notable platforms like OKX, HTX, and Gate also recorded smaller totals of $1.21 billion, $362.5 million, and $264.5 million, respectively.
Bitcoin may experience volatility amid tariff concerns, says exec
Swan Bitcoin CEO Cory Klippsten indicated that Bitcoin’s price volatility may not be finished after the cryptocurrency briefly dipped to $102,000 on Friday, coinciding with US President Donald Trump’s announcement of a 100% tariff on Chinese imports.
“If the broader risk-off sentiment persists, Bitcoin might experience some fluctuations before finding support and decoupling again,” Klippsten advised Cointelegraph on Friday.
He cautioned Bitcoin holders to brace for potential turbulence over the next few days. “Macro-driven dips like this tend to flush out leveraged traders and weak hands, resetting positioning for the next upward movement,” Klippsten explained.
In the last 24 hours, approximately $2.19 billion in Bitcoin long positions were liquidated, contributing to a total of $8.02 billion in long liquidations across the crypto market, according to CoinGlass.
