Well, well, well! Changpeng “CZ” Zhao, the co‑founder and former CEO of Binance, has decided to play the role of a crypto superhero, pushing back against those wild claims that his exchange was the villain behind the dramatic market crash that sent digital assets tumbling last October. It’s like blaming the guy selling hot dogs for a stadium riot-totally absurd!
In his live “ask-me-anything” session-because who doesn’t want to answer awkward questions in front of an audience?-CZ dismissed these accusations as “far-fetched.” I mean, really, what’s next? Blaming the weather for a bad haircut? He argued that such claims oversimplify one of the most chaotic days in crypto history. And let’s be honest, that day was like watching your favorite soap opera but with real money!
CZ Says, “Not Me!” to $19 Billion Liquidations
During this session-probably with a popcorn bucket in hand-Zhao firmly rejected the notion that Binance was the main culprit behind the $19 billion worth of liquidations on October 10. Traders across the industry faced price swings so wild they could have been in a rodeo. One minute you’re riding high; the next, you’re thrown off the bull! Yeehaw!
That fateful day saw the largest single-day liquidation in the crypto world’s short yet dramatic life. While Binance did face some hiccups-like a toddler learning to walk-Zhao insisted they weren’t the reason for the market’s epic faceplant. In his words:
“There’s a larger group claiming the October 10th crash was caused by Binance and wants us to pay for their therapy bills. If you’re living in that world in your head, good luck finding reality!”
Let’s not forget, folks, Binance did step up to the plate, paying out about $600 million to users affected by its technical blunders. That’s right-CZ and his crew were handing out refunds like candy on Halloween!
Binance Under the Regulatory Microscope!
Now, if that wasn’t enough, Zhao also addressed the regulatory watch dogs, noting how Binance operates as a good little regulated company in Abu Dhabi. Who knew crypto could be so… responsible? Local authorities have full access to Binance’s operational data-talk about a nosy neighbor!
Even though he’s no longer at the helm, CZ made sure we knew he’s still a shareholder and user. After stepping down as CEO in November 2023 (thanks to some friendly chats with US authorities), he’s still keeping an eye on the ship.
But wait, there’s more! In a plot twist worthy of a telenovela, Zhao received a presidential pardon from Donald Trump in October 2025. Cue the dramatic music! This sparked a whirlwind of public debate and political eye-rolling, especially from Democrats who wondered what kind of magic beans Zhao had traded for that pardon.
In a separate interview, Zhao vehemently denied any business ties with the Trump family. “Nope, nothing! Just a couple of guys at a party talking about golf,” he quipped. Because nothing says ‘trustworthy’ like a vague golf reference!
As of now, Binance Coin (BNB) is trading at $847-down 5% just this week, which is like finding out your favorite pizza joint raised their prices! It’s currently 38% below its all-time high of $1,369. Ouch! Talk about making wallets weep!
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2026-01-31 13:26