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>>Binance Co-CEO Speaks Out, Offering Details on the October 10 Liquidation Incident

Binance Co-CEO Speaks Out, Offering Details on the October 10 Liquidation Incident

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about 2 hours ago

Binance Refutes Sole Trigger Claim

Richard Teng says the Oct 10 crash was a market‑wide event, not caused only by Binance. Liquidations rose simultaneously on centralized and decentralized platforms as volatility surged. He cites US‑China tariffs, geopolitical uncertainty and high leverage as external drivers.

Impact Across Markets and Binance’s Response

Both crypto and traditional markets saw massive sell‑offs, with U.S. equities losing $1.5 trillion and $150 billion in equity liquidations. Crypto suffered $19 billion in forced closures across all major exchanges. Binance aided affected users, recorded no abnormal withdrawals, and found no technical failures.

Institutional Outlook and SAFU Fund Update

Teng notes institutional investment remains strong despite a retail slowdown. Binance completed its $1 billion SAFU Bitcoin purchase, adding 4,545 BTC to a 15,000 BTC reserve. The fund will be replenished automatically if its value falls below $800 million.

Binance Co-CEO Speaks Out, Offering Details on the October 10 Liquidation Incident

Binance Refutes Sole Trigger Claim

Impact Across Markets and Binance’s Response

Institutional Outlook and SAFU Fund Update

Binance Co-CEO Speaks Out, Offering Details on the October 10 Liquidation Incident