Changpeng “CZ” Zhao, co-founder and former CEO of Binance, defended the world’s largest cryptocurrency alternate towards accusations that it performed a central function in final October’s $19 billion market crash.
Talking in a reside ask-me-anything session on Binance’s platform, Zhao known as such claims “far-fetched” and stated they ignore broader market dynamics, Bloomberg reviews.
Abstract
- Zhao known as claims that Binance brought about the $19 billion crypto crash in October 2025 “far-fetched.”
- Binance offered round $600 million to affected customers and operates beneath Abu Dhabi regulation and US monitorship, with Zhao noting system points had been already addressed.
- Zhao was pardoned by Trump in 2025, and is reportedly near a deal eradicating Binance’s compliance monitor requirement.
On October 10, report liquidations erased roughly $19 billion in leveraged crypto positions—the most important single-day sell-off within the sector’s 16-year historical past.
Customers reported technical glitches and pricing discrepancies on exchanges, together with Binance, triggering panic promoting. Binance later compensated clients and companies round $600 million for losses linked to platform points.
