In the midst of the escalating debate within the cryptocurrency community, Changpeng Zhao (CZ), the co-founder and former CEO of Binance, made decisive statements denying any direct or indirect responsibility for the collapse of the digital currency market witnessed in October, which led to massive losses and sparked a wave of accusations within the sector.
🔍 What did CZ say?
CZ confirmed that what happened in October was a natural correction in a market that is inherently volatile, emphasizing that:
📉 The collapse is the result of macroeconomic factors such as global monetary policies, rising interest rates, and declining risk appetite.
🧩 Linking one platform to the collapse of the entire market is a misleading simplification that does not reflect the complexity of the crypto ecosystem.
🛡️ Binance did not take any exceptional or illegal actions that would cause the market to collapse.
🗣️ “The crypto market is bigger than any platform, and what happened reflects the nature of free markets, not individual actions” — CZ
📊 Why were accusations directed at Binance?
Despite CZ's denial, some critics believe that:
The massive trading volume of Binance gives it an indirect influence on the market.
Any news or movements related to the platform may be psychologically interpreted as a sell signal or panic.
However, analysts indicate that:
🧠 The psychological factor for investors was the main driver.
🌍 The decline coincided with global economic pressures, not with internal decisions of a specific platform.
⚖️ Between responsibility and reality
Between accusations and defenses, the most prominent truth remains:
A decentralized cryptocurrency market by nature.
No single party can be held responsible for a comprehensive collapse.
Transparency and clear communication — as CZ did — are essential elements to maintain community trust.
🔮 What's next for the crypto market?
Despite the storm, many investors still see corrections as:
🔄 Opportunity for re-evaluation.
🌱 A healthy foundation for building a new upward wave on stronger bases.
✨ Summary
CZ's statements have reopened the discussion about the limits of major platforms' influence in the crypto market, but at the same time highlighted a fact that cannot be ignored:
📌 The cryptocurrency market is governed by a complex system of factors, not the decision of one person or platform.
