Changpeng 'CZ' Zhao refutes claims that Binance was responsible for the $19 billion crypto crash, attributing it to systemic market forces.Changpeng 'CZ' Zhao refutes claims that Binance was responsible for the $19 billion crypto crash, attributing it to systemic market forces.

Binance’s CZ Denies $19B Crypto Crash Allegations

2 min read
Changpeng Zhao Refutes Binance's Role in Crypto Crash
Key Points:
  • CZ rejects Binance’s role in $19B crypto crash.
  • Market impacted by leverage unwinds, volatility.
  • Exchange allocated $600M compensation for related issues.

Changpeng “CZ” Zhao, Binance’s co-founder, dismissed claims linking Binance to the October 10, 2025, crypto crash as “absurd” and “far-fetched.” He attributed the $19 billion liquidation to market forces like leverage unwinds and widespread volatility.

Changpeng “CZ” Zhao, former CEO of Binance, refuted claims that the platform caused the $19 billion crypto crash on October 10, 2025, attributing it to systemic market forces.

The event highlights systemic vulnerabilities, with the broader market experiencing over $1 trillion in capital losses, underscoring crypto’s volatility challenges.

Former Binance CEO Changpeng Zhao’s Response

Former Binance CEO Changpeng Zhao rejected claims during a live AMA that Binance was responsible for the $19 billion crash, blaming systemic factors like leverage unwinds. Bitcoin saw a sharp fall, illustrating market volatility and leverage risks. Zhao described assumptions of Binance being a singular cause as far-fetched and absurd.

– Changpeng “CZ” Zhao, Former CEO and Co-founder of Binance – source

Bitcoin fell significantly, which affected the entire crypto market, leading to $19 billion in liquidations. Binance pledged $600 million to users hit by technical issues but distanced itself from the broader market plunge.

The crash spurred regulatory scrutiny, yet no immediate measures followed. Zhao labeled the allegations a mixture of misinformation and platform-specific glitches challenges. Experts like Guy Young cited internal oracle failures affecting USDe’s stability as isolated incidents.

Such significant liquidations highlight the market’s reliance on leverage, necessitating robust risk management strategies moving forward. Analysts emphasize learning from these events to mitigate future risks. Key trends suggest an increasing focus on exchange transparency and system resilience in handling extreme market volatility.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Vitalik Buterin Challenges Ethereum’s Layer 2 Paradigm

Vitalik Buterin Challenges Ethereum’s Layer 2 Paradigm

Vitalik Buterin challenges the role of layer 2 solutions in Ethereum's ecosystem. Layer 2's slow progress and Ethereum’s L1 scaling impact future strategies.
Share
Coinstats2026/02/04 04:08
USAA Names Dan Griffiths Chief Information Officer to Drive Secure, Simplified Digital Member Experiences

USAA Names Dan Griffiths Chief Information Officer to Drive Secure, Simplified Digital Member Experiences

SAN ANTONIO–(BUSINESS WIRE)–USAA today announced the appointment of Dan Griffiths as Chief Information Officer, effective February 5, 2026. A proven financial‑services
Share
AI Journal2026/02/04 04:15
China drops Google antitrust case as U.S.-China talks focus on TikTok and Nvidia

China drops Google antitrust case as U.S.-China talks focus on TikTok and Nvidia

The post China drops Google antitrust case as U.S.-China talks focus on TikTok and Nvidia appeared on BitcoinEthereumNews.com. Beijing is shelving its antitrust case against Google, as the United States and China ramp up negotiations over TikTok and Nvidia during a tense period in relations. People briefed on the matter said China’s State Administration for Market Regulation chose to end the competition inquiry into Google, a status in Chinese called “zhongzhi”, the Financial Times reported on Thursday, The FT added that Google has not yet received formal paperwork confirming the closure of the case. After talks with Chinese counterparts in Madrid, U.S. Treasury Secretary Scott Bessent said a September 17 deadline that could have disrupted the popular social media app in the United States pushed negotiators toward a possible agreement. He noted the deadline could be extended by 90 days to finish the terms, without giving specifics. Bessent said that when commercial details are made public, the arrangement would keep cultural features of TikTok that Chinese negotiators want to protect. “They’re interested in Chinese characteristics of the app, which they think are soft power. We don’t care about Chinese characteristics. We care about national security,” Bessent told reporters at the close of two days of meetings. Trump hinted at possible Chinese stake in TikTok Asked whether China might hold a stake, former President Donald Trump said, “We haven’t decided that but it looks to me, and I’m speaking to President Xi on Friday, for confirmation of that.” A Trump has said the platform aided his re-election last year, and his personal account counts 15 million followers. The White House launched an official TikTok account last month. Any deal may still need approval from the Republican-led Congress. In 2024, Congress passed a law saying TikTok must be sold because of worries that China could access U.S. user data and use it for spying or influence. The Trump administration has…
Share
BitcoinEthereumNews2025/09/18 14:08