tldr; OKX CEO Star Xu blamed Binance for the $19 billion crypto market crash on October 10, citing Binance’s promotion of Ethena’s USDe synthetic dollar, which allegedly created excessive leverage and systemic fragility. Xu claimed Binance’s high-yield campaign led to a leveraged loop that collapsed under market stress. However, Binance and other experts refuted these claims, arguing that the USDe depeg occurred after Bitcoin’s price bottomed and was not the root cause of the crash. The incident highlights ongoing tensions between major crypto exchanges over market stability issues.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Flipmode45 on
Either way, it’s Binance.
Azatis- on
What about January 2026 crash ?
ShittingOutPosts on
People need to stop using Binance. Coinbase as well.
Leave A Reply
Du musst angemeldet sein, um einen Kommentar abzugeben.
4 Kommentare
tldr; OKX CEO Star Xu blamed Binance for the $19 billion crypto market crash on October 10, citing Binance’s promotion of Ethena’s USDe synthetic dollar, which allegedly created excessive leverage and systemic fragility. Xu claimed Binance’s high-yield campaign led to a leveraged loop that collapsed under market stress. However, Binance and other experts refuted these claims, arguing that the USDe depeg occurred after Bitcoin’s price bottomed and was not the root cause of the crash. The incident highlights ongoing tensions between major crypto exchanges over market stability issues.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Either way, it’s Binance.
What about January 2026 crash ?
People need to stop using Binance. Coinbase as well.