Zhao Changpeng denies that Binance is responsible for handling the cryptocurrency market crash in October last year.

Former CEO of Binance Zhao Changpeng stated that the continued accusations against Binance for its response to the cryptocurrency market crash in October last year are "very far-fetched". During an online Q&A session on Friday, Zhao denied that Binance was the main driver behind the record liquidation spree that occurred when platform users experienced technical glitches and price disparities. Following the crash, the company distributed around $600 million in compensation to customers and businesses. Zhao mentioned that there are still some people claiming that the crash was caused by Binance and demanding compensation, but they are unlikely to succeed in the future. He pointed out that Binance is a regulated company in Abu Dhabi, where local regulators can access the company's operations, and the US government continues to monitor the platform.