Binance said Bitcoin bottomed at 21:20 UTC, before the depegging event began at 21:36. Bitcoin News reported that CZ called the accusations "far-fetched." Dragonfly's Haseeb Qureshi said the timeline does not match. Star Xu replied that Bitcoin fell first and that the leverage loop further exacerbated the decline.
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Binance says depegging began only after Bitcoin bottomed
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