Summary
- Changpeng Zhao, the founder of Binance, said he refuted claims that Binance was responsible for last October’s plunge in the virtual asset market, calling them groundless.
- Zhao said Binance bears no responsibility for the $19 billion liquidation event that occurred last October, and that it has already compensated users affected by technical issues by about $600 million.
- Zhao stressed that Binance is regulated in Abu Dhabi and is also under the oversight of U.S. authorities, and that compensation for affected customers has already been completed in full.
Changpeng Zhao, the founder of Binance, pushed back against claims that “Binance was behind last October’s crash in the virtual asset (cryptocurrency) market,” calling them “groundless.”
According to Walter Bloomberg, a breaking-news account, on the 30th (local time), Zhao said “Binance bears no responsibility for the $19 billion liquidation event that occurred last October,” adding that the company “has already compensated users affected by technical issues by about $600 million.”
He went on to stress that “Binance is regulated in Abu Dhabi and is also under oversight by U.S. authorities. Compensation for affected customers has already been completed in full.”
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
