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