Was the Binance flash crash a coordinated liquidation?

I’m not on Binance — I trade on decentralized exchanges. The lowest prices I saw were around $1.50 for ATOM, $170 for SOL, and $2 for XRP.

But I’ve been reading and researching, and it seems that on Binance, all these coins suddenly dropped from their normal prices down to $0.01. That crash reportedly liquidated almost all leveraged positions, and there were buy orders ready to scoop them up at those rock-bottom prices.

This really looks like a coordinated liquidation. I’m curious — do you think this was done to make money for insiders, to hurt Binance’s reputation, or even to undermine trust in crypto and trading overall?

What’s your take on this?