Binance's Richard Teng says macro shocks drove the October 10 crypto crash

Binance Co-CEO Richard Teng insisted that the crypto market collapse on October 10 was caused by global macroeconomic shocks, not by centralized exchanges like Binance. Speaking Thursday at CoinDesk’s Consensus Hong Kong conference, Teng said the event wiped out $19 billion in leveraged positions across crypto markets. He argued that liquidations occurred simultaneously on both […]