He Yi responds to allegations of "manipulating K-line data": Binance uses mark prices to avoid extreme prices on a single platform

2025.10.15

He Yi responds to allegations of "manipulating K-line data": Binance uses mark prices to avoid extreme prices on a single platform

He Yi responded on X platform regarding the "data modification" issue, stating: "If you've traded on Binance, you can compare the liquidation price of the same project—Binance Futures uses the mark price, which is a weighted average across multiple platforms after excluding extreme prices. Feel free to verify this yourself. Historically, some platforms use their own prices, making users vulnerable to being liquidated by spot market fluctuations, leading them to suspect platform manipulation. One innovation of Binance Futures is using mark price for liquidations to avoid extreme prices from a single platform. As for the K-line issue, there was no motive or reason—it was simply someone on the team acting impulsively, thinking the announcement had already made things clear. The only impact was beyond the order book"

2025.10.15 - 01:30:49

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TechFlow news, on October 15, He Yi responded on X platform regarding the "data modification" incident. She stated: "If you've traded on Binance, you can compare the liquidation prices for the same project. Binance Futures uses the mark price, which is the weighted average price across multiple platforms after excluding extreme values. Feel free to verify this yourself. Historically, some platforms used their own prices, making users vulnerable to being liquidated by spot market fluctuations, leading them to believe the platform was acting maliciously. Therefore, one of Binance Futures' innovations is using the mark price for liquidations, avoiding extreme prices from a single platform. As for the K-line issue, there was no motive or reason—it was simply someone on the team acting impulsively, thinking the announcement had already made things clear. The only impact was that during periods of order book vacancy, an old limit order from several years ago earned几十 dollars."

In addition, He Yi also said: "With more people involved, managing the team becomes challenging. Delegating to the team means I have to step in and apologize when things go wrong. Binance is still Binance, but execution definitely needs refinement—again and again."