CoinMeta data: The shocking event of a $19B cryptocurrency liquidation collapse occurred for the first time on October 10, 2025, marking its first anniversary. Over $19 billion in leveraged positions were liquidated within just a few hours of a sharp decline in Bitcoin and altcoins. The incident took place after President Trump announced additional tariffs on Chinese imports. CoinMeta data revealed that extreme leverage had made the derivatives market vulnerable before the external shock struck. On October 10, 2025, Trump announced that the United States planned to impose an additional 100% tariff on Chinese imports. This proposal would be added to the existing tariffs, with implementation initially scheduled for November 1. The market quickly reacted to the further escalation of trade tensions between the United States and China. Cryptocurrency assets were particularly exposed as derivative positions had become highly leveraged. Coinglass recorded that on October 7, 2025, the total value of outstanding contracts for crypto derivatives reached a historic high of $235.9 billion. This peak appeared just three days before the historical liquidation event.