The Binance 10/10 crash controversy continues to spark debate. Changpeng Zhao, commonly known as CZ, directly addressed accusations against his exchange.
CZ spoke out against theories claiming Binance manipulated the market. According to ">CoinBureau on X, the CEO made his position crystal clear. "The tariff announcements preceded the crash, not Binance system issues or Binance doing anything," CZ stated.
The Real Culprit Behind October's Meltdown
CZ pointed to tariff announcements as the crash trigger. The timing proves critical to his defense. Market events unfolded before any alleged exchange issues occurred.
The CEO dismissed trading manipulation theories entirely. "We don't buy and sell crypto in the sense of trading to make money out of it," he explained. The platform doesn't engage in proprietary trading for profit.
Why Market Manipulation Makes No Sense
Bitcoin's massive $2 trillion market cap presents enormous obstacles. Any manipulation attempt would require hundreds of billions at risk. "I don't know anybody on the planet that's crazy enough to do that," CZ remarked.
The financial exposure alone makes such schemes unrealistic. No rational entity would gamble that much capital. The risk-reward calculation simply doesn't add up.
Regulatory Oversight Prevents Foul Play
The exchange operates under strict regulatory supervision now. Binance 10/10 crash claims ignore critical oversight facts. The platform answers to ADGM, its global regulator. All trades across all accounts face scrutiny.
US monitors also oversee operations closely. This multi-layered oversight prevents any questionable activities. "Binance is not in a position to do anything funky," CZ emphasized.
The CEO addressed system-related complaints as well. Affected users reportedly received compensation already. Technology failures remain possible despite best efforts.
CZ acknowledged no system guarantees perfect uptime. Even the internet can experience disruptions. Traders betting everything on flawless technology face inherent risks.
The CEO's message to skeptics remained direct. Anyone still believing the platform deliberately caused the Binance 10/10 crash holds "really, really far-fetched" views. The evidence doesn't support manipulation theories.
