On April 1, Binance issued an announcement on April Fools' Day, causing multiple tokens such as $ACT and $PNUT to plummet. On March 31, Binance announced that it would update the contract leverage and margin, affecting user positions. The changes were announced again on April 1, leaving users with less than 3 hours of reaction time, resulting in a 50% plunge in tokens such as ACT. The market speculated about the reason for the plunge and suspected that the market maker WinterMute cleared the Meme position on the chain, but WinterMute denied it. The change in Binance rules is considered to be the main reason. Adjusting the upper limit of contract positions and leverage multiples affects market liquidity, resulting in market makers being forced to close positions, and robot arbitrage exacerbates price declines. Encryption KOL Benson Sun said Binance should evaluate the impact of rule changes and handle incidents properly. The cause of the incident is not yet clear, and Binance is under pressure to solve the problem.