OKX CEO Star Xu Warns October 2025 Crash Did ‘Lasting Damage’ — Criticism Appears Aimed at Binance
OKX CEO Star Xu has publicly criticized Binance, blaming it for causing "real and lasting damage" during the October 10, 2025 flash crash. Xu accused Binance of prioritizing short-term profits over market health, using aggressive narrative control, and promoting low-quality tokens. The crash, triggered by a market-wide sell-off, led to up to $30 billion in liquidations, exacerbated by Binance's pricing issues and collateral depegging. While Binance defended its actions and offered compensation, the event has intensified rivalry between major exchanges and raised concerns about transparency and risk management in centralized trading platforms.
ccn.com01/29 11:52
