A prominent figure in the cryptocurrency community, Davinci Jeremie, has recently stirred the pot by attributing the chaotic collapse of the crypto market on October 10, 2025, to the financial interests of the Trump family rather than the commonly held belief that a crypto exchange was to blame. Jeremie, who is recognized as one of the earliest Bitcoin adopters, shared his controversial stance during an appearance on The Sujal Show, where he offered a politically charged perspective on the events that led to the crash.
The October 10 incident remains one of the most debated topics in the crypto space, with industry participants still grappling to identify the root causes of the sudden downturn. Speculation has run rampant since then, with various theories emerging—ranging from liquidations driven by Binance to coordinated sell attacks orchestrated by larger players in the market.
Jeremie’s assertion centers around the idea that the Trump family’s financial strategies aim to undermine the cryptocurrency market to acquire more assets at depressed prices. He posits that the family’s wealth provides them with the ability to think long-term, in stark contrast to the short-sighted approach often seen among retail investors. “If you’re wealthy, you don’t think in short terms as most people do; you think in long terms,” Jeremie explained, suggesting that wealthy participants are playing a different game altogether.
In the wake of the crash, which led to the liquidation of over $19 billion in leveraged positions within a single day, the focus largely fell on Binance, a major cryptocurrency exchange. Many analysts posited that cascading liquidations on Binance’s derivatives platform were primarily responsible for the market’s swift decline. The sell-off was notably exacerbated by market reactions to then-President Trump’s announcement of a potential 100% tariff on Chinese imports, triggering a broader risk-off stance among traders and investors alike.
The narrative around Binance gained further traction when rival exchange CEO Star Xu publicly criticized Binance’s promotional campaigns, particularly one that offered a competitive 12% annual percentage yield (APY) on its synthetic dollar-pegged currency, USDe. Xu suggested that Binance’s marketing blurred the lines between this synthetic stablecoin and traditional stablecoins such as USDT and USDC, potentially leading retail investors to misjudge systemic risks.
Jeremie, who has developed a following for his early advocacy of Bitcoin, has gained additional notoriety from a viral YouTube clip in which he urged viewers to invest in Bitcoin when prices were significantly lower. This moment has since become iconic in the cryptocurrency narrative, framing him as a pioneering voice in the community.
As the fallout from the October crash continues to shape market dynamics and investor sentiment, the conversations surrounding potential influences, including political motivations and institutional actions, are likely to persist. Jeremie’s claims not only challenge the prevalent theories but also inject a new layer of complexity into the ongoing analysis of one of the most turbulent periods in cryptocurrency history.
