Binance CEO cites 'mass liquidations in October'… "It happened across all exchanges"

Richard Teng, co-chief executive officer (CEO) of Binance, has pushed back against claims that Binance was to blame for the mass liquidation event that roiled the crypto market in October last year.

According to CoinDesk on the 12th (local time), Teng, speaking at “Consensus Hong Kong 2026” held in Hong Kong that day, said, “(During the mass liquidations in October) selling pressure in cryptocurrencies emerged across all exchanges.” He added, “(As a result of the mass liquidations) some users suffered losses, and Binance supported those users,” noting that “other exchanges did not take such measures.”

He also commented on the outlook for the crypto market. Teng said, “(Even amid recent market conditions) institutional investors are still entering the crypto space,” adding, “That means smart investors are putting money to work.” He continued, “What we need to look at is the fundamental course of development,” and added, “Retail demand (for crypto) is somewhat weaker than last year, but investment by institutions and companies remains strong.”