TechFlow News, May 7: Cathie Wood, CEO of ARK Invest, stated in her latest conversation with CZ (Changpeng Zhao) that Binance did not actively trigger the “October 11 crypto market flash crash” last year. She explained that the crash was driven by a sharp market decline, which caused partial system failures at Binance; this, combined with tariff-related panic sentiment, amplified the market’s systemic fragility. Cathie Wood also noted that there had been a widespread misinterpretation of Binance’s role in that incident.
In response, CZ expressed gratitude for the clarification. Previously, media outlets had widely cited related statements, fueling the narrative that “Binance caused the crash.”
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