Bitmine Chairman Tom Lee has provided new insights into the market volatility witnessed on October 10, identifying a stablecoin flash crash as the primary catalyst. In a recent interview, he explained that the de-pegging or sudden drop of a specific stablecoin triggered a mechanical chain reaction and cascading liquidations across crypto assets. This retrospective analysis clarifies the mechanics behind the sharp Bitcoin sell-off during that period, isolating specific liquidity failures rather than highlighting any fundamental weakness in the asset class. Lee suggests that understanding these systemic liquidity dynamics is crucial, pointing to anomalies in the stablecoin market as having a disproportionate impact on broader market liquidity. [Update 1] Added further details clarifying that Lee views this event as a liquidity failure rather than a fundamental weakness in Bitcoin, emphasizing the systemic impact of stablecoin anomalies.