๐ JUST IN: ๐ก CZ DENIES ROLE IN OCTOBERโS $19B CRYPTO CRASH
Binance founder Changpeng Zhao (CZ) says claims that Binance caused Octoberโs $19 BILLION crypto market crash are โfar-fetched.โ
KEY DETAILS:
โข Event: $19B in forced liquidations (October)
โข Claim: Binance-triggered crash
โข CZ response: Denied responsibility
โข Issue cited: Price discrepancies during volatility $ADA
โข Compensation paid: ~$600M to affected users $SENT
WHY IT MATTERS:
โข Highlights fragility of market infrastructure during stress events $PAXG
โข Puts spotlight on exchange reliability & liquidation mechanics
โข Reinforces how fast liquidity cascades can spiral in crypto
BOTTOM LINE:
CZ Pushes Back Hard.
Octoberโs Crash Was A Systemic Liquidity Event โ Not A One-Exchange Failure โ ๏ธ๐
