$BTC CZ FIRES BACK: “BINANCE DID NOT CAUSE THE $19B CRYPTO CRASH” 🚨
The blame game is heating up — and Changpeng Zhao isn’t backing down. The Binance founder has flatly rejected claims that his exchange triggered October’s $19 billion crypto liquidation cascade, calling the accusations “far-fetched.”
According to CZ, the crash wasn’t engineered by Binance, despite reports pointing to price discrepancies and system stress during extreme volatility. He pushed back on the narrative that Binance set off forced liquidations, arguing that market-wide leverage and panic were the real culprits — not a single platform.
Still, CZ acknowledged user impact. Binance reportedly paid out around $600 million in compensation to affected traders, a move he framed as accountability, not admission of fault.
As markets grow more fragile, scrutiny on exchanges is intensifying — and this won’t be the last finger-pointing episode.
So who really caused the crash: exchange mechanics… or a system overloaded with leverage?
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