Changpeng Zhao rejects claims Binance worsened crypto market crash
CZ pushed back on claims that Binance fueled October’s historic $19 billion crypto liquidation event, calling allegations against the exchange “far-fetched.”
Former Binance CEO Changpeng “CZ” Zhao has pushed back against allegations that the cryptocurrency exchange played a role in the largest liquidation event in crypto history, a sell-off whose effects are still rippling through markets more than three months later.
Speaking during a Q&A session on Binance’s social media channels, Zhao denied that Binance was a major contributor to the record wave of forced liquidations on Oct. 10, when roughly $19 billion in positions were wiped out across the crypto market.
Zhao described claims that Binance was responsible for the crash as “far-fetched,” according to Bloomberg.