It further emphasizes:
“Importantly, Binance’s platform-specific issues did not cause the flash crash.”
FAQ ⏰ What does Binance say caused the October crypto flash crash? Binance says macroeconomic shocks, high leverage and liquidity withdrawal — not a platform glitch — triggered cascading liquidations. Did Binance admit to any platform issues during the crash? Binance acknowledged temporary strain under extreme conditions and said all affected users were fully compensated. How much leverage was in the crypto market before the sell-off? Binance noted bitcoin futures and options open interest exceeded $100 billion ahead of the crash. Why does Binance say the three-token depeg was not the trigger? The exchange says most liquidations occurred before the USDe, BNSOL, and WBETH depegs.
