$BTC CZ replies: "Binance did not cause the collapse of cryptocurrencies worth $19 billion" 🚨
The blame game is escalating — and Changpeng Zhao is not backing down. The founder of Binance has firmly rejected allegations that his platform caused a chain of liquidations in cryptocurrencies worth $19 billion in October, describing the accusations as "far from reality."
According to CZ, the collapse was not engineered by Binance, despite reports indicating price discrepancies and system pressures during severe volatility. He countered the narrative that Binance ignited forced liquidations, arguing that leverage and market panic were the real causes — not a single platform.
However, CZ acknowledged the impact on users. It was reported that Binance paid around $600 million in compensation to affected traders, a move he described as responsibility, not an admission of guilt.
As markets become more fragile, scrutiny on platforms is increasing — and this will not be the last episode of blame.
Who really caused the collapse: platform mechanisms... or a system burdened with leverage?
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