Binance Co-CEO Richard Teng said that the recent “10/10” crypto liquidation event was triggered by worldwide macroeconomic shocks, not internal exchange issues, according to a post published on Binance Square. Teng attributed the sharp market reaction to broader financial instability rather than platform-specific factors.
In his statement, Teng described the scale of liquidations as extreme, framing the episode as one of the most intense stress events in recent memory. He emphasized that external economic turbulence, including global market volatility, was the primary catalyst behind the rapid unwinding of leveraged positions across the crypto sector. The remarks directly addressed speculation that exchange-related dynamics may have fueled the sell-off, instead pointing to macro forces as the dominant driver.
Teng added that Binance remained operational throughout the turbulence and did not signal any structural disruption to its services. Market participants will now watch whether volatility subsides or if further macro developments intensify pressure on digital assets. Any additional commentary from Binance leadership could shape sentiment as traders assess the resilience of major platforms during systemic shocks.
Source: Binance Square
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