CZ RESPONDS TO $19B CRYPTO CRASH CLAIMS
Binance founder Changpeng Zhao (CZ) has firmly rejected allegations that Binance was responsible for October’s massive $19 billion crypto market crash, calling the accusations “far-fetched and misleading.”
CZ clarified that Binance did not trigger the wave of forced liquidations, emphasizing that extreme market volatility — not manipulation — caused temporary price discrepancies users experienced on the platform. He stressed that such conditions affected the entire market, not just Binance.
To protect its community, CZ revealed that Binance paid nearly $600 million in compensation to users impacted by system-related issues, reinforcing the exchange’s commitment to accountability and user trust.
As scrutiny around centralized exchanges grows, CZ’s statement highlights the complexity of high-volatility events and Binance’s stance that market forces — not a single platform — drive crashes of this scale.. #CZ #CZInsights #USPPIJump #BitcoinETFWatch #USGovShutdown $BTC
