Binance Co-Founder CZ Rejects Claims He Triggered October’s $19B Crypto Crash
Binance co-founder and former CEO, Changpeng ‘CZ’ Zhao, has dismissed claims that his exchange played a significant role in the crypto market crash in October 2025, which resulted in over $19 billion in leveraged positions being forcibly liquidated within a 24-hour window.
Bitcoin (BTC) lost approximately $10,000 in value within minutes, falling from over $120,000 to below $105,000 during a flash crash. The apex crypto fell over 14% from its peak, while the total crypto market capitalization contracted by an estimated $350 billion.
During a live ask-me-anything session on Binance Square, CZ called the accusation that the world’s largest digital asset trading platform caused the market downturn “far-fetched”.
