Cathie Wood Clarifies Binance's Role in October 10 Flash Crash

2026-05-08 16:31

On May 7, 2026, ARK Invest CEO Cathie Wood clarified that Binance was not responsible for the October 10 flash crash, addressing Binance founder CZ directly. Wood emphasized that while a software glitch occurred, it was not Binance that triggered the event. Previously, in a January 26 interview with FOX Business, Wood had linked the flash crash to a software glitch on Binance, which resulted in a $28 billion deleveraging event. Her initial comments had sparked significant debate within the crypto community regarding the causes of the October 10 crash.

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