The blame game is officially ON — and Changpeng Zhao isn’t staying quiet.
Binance founder CZ has strongly denied accusations that Binance was responsible for October’s massive $19 billion crypto liquidation event, calling the claims “far-fetched and misleading.”
According to CZ, the crash was not orchestrated by Binance, despite reports highlighting price gaps and system pressure during extreme volatility. He rejected the narrative that Binance triggered forced liquidations, stating the real drivers were excessive leverage, panic selling, and a fragile market structure — not one exchange.
That said, CZ did acknowledge the impact on users. Binance reportedly paid nearly $600 million in compensation to affected traders — a move CZ framed as user protection and responsibility, not an admission of guilt.
As crypto markets become more sensitive and leveraged, scrutiny on major exchanges is intensifying — and this won’t be the last time fingers are pointed.
So what really caused the crash?
⚠️ Exchange mechanics…
⚠️ Or a system overloaded with leverage?
Stay sharp. Stay informed.
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