Binance Founder Zhao Denies Crypto Market Crash Accusations (2)

Changpeng “CZ” Zhao, the former chief executive officer of Binance, said lingering accusations that the world’s largest digital asset platform bears responsibility for the crypto market crash last October are “far-fetched.”

In a live ask-me-anything session on Binance’s social platform on Friday, Zhao denied Binance was a key driver of the record spree of liquidations that occurred as users encountered technical glitches and price discrepancies on the platform. The company offered customers and businesses around $600 million in compensation following the crash.

A record $19 billion in leveraged crypto positions were erased on Oct. 10, the biggest single-day liquidation ...