JUST IN: $CZ slams “paid attacks” blaming Binance for crypto’s worst day.
In a live Binance Square AMA on 30 January 2026, Changpeng "CZ" Zhao forcefully rejected claims that Binance caused the market's "worst day"—the 10 October liquidation event that wiped out $19 billion in leveraged positions.
CZ specifically targeted what he called "paid internet attacks" and organized negative campaigns, cautioning users to be wary of fresh accounts with few followers spreading nearly identical copy-paste content.
Key Rebuttals from the AMA:
"Far-fetched" Allegations: Zhao dismissed claims that Binance triggered the crash as groundless, noting that while the platform experienced minor system delays during extreme volume, it did not cause the $19 billion liquidation event.
$600 Million Compensation: He clarified that Binance had already voluntarily paid out roughly $600 million ($400M in relief and $200M for separate technical glitches) to users affected by system errors.
Regulatory Oversight: CZ emphasized that Binance operates under Abu Dhabi Global Market (ADGM) oversight and remains under a U.S. government monitorship, meaning regulators can review every trade.
Independent Status: Speaking as a shareholder rather than CEO, CZ attributed the 10 October "flash crash" to macro factors like global tariff announcements rather than exchange-level activity.
Zhao also warned high-profile influencers against accepting money to spread these attacks, stating such actions permanently damage their reputations within the industry.
Would you like to see a breakdown of the macro factors CZ believes actually triggered the October crash?
this is not financial advice . For financial advice, consult a professional
