Cathie Wood Clarifies Binance Role in October Flash Crash

ARK Invest CEO Cathie Wood has updated her remarks on the October 10 market flash crash following a conversation with Binance founder Changpeng Zhao (CZ), clarifying that Binance did not trigger the event.

While she had previously told FOX Business on January 26 that a Binance-related software glitch contributed to a $28 billion deleveraging event, she now emphasized that the exchange was not responsible.

Her revised statement follows earlier comments that prompted widespread discussion in the crypto community.

Source: ARK Invest