CZ: Will No Longer Comment on Star's Binance Responsibility for 10/11 Flash Crash, Much Work to Do

BlockBeats News, January 31st, Dragonfly partner Haseeb stated that OKX Star's claim that Binance should be held responsible for the 1011 flash crash is unreasonable. Binance founder CZ retweeted the article and said, "Dragonfly was once one of OKX's largest investors. Data speaks for itself, the timeline and truth conflict. Glad to see people starting to understand the facts. I will try not to comment on this topic anymore. Let others talk about us, we focus on our work. There is still much work to be done."

In his view, Haseeb pointed out that the price of Bitcoin on USDe on Binance had bottomed out about 30 minutes before the anomaly occurred, indicating a clear inversion of cause and effect. At the same time, the price deviation of USDe only occurred on Binance and did not spread to other trading platforms, which cannot explain a large-scale liquidation across the entire market, unlike events such as Terra that have caused global balance sheet shocks. Haseeb emphasized that the 1011 flash crash did not have a simple and conspiratorial "lone villain"; although the market was severely hit, it has not been permanently damaged in the long run and only needs time to restore liquidity and confidence.