Cathie Wood Clarifies Binance Not Responsible for October 11 Flash Crash

2026-05-08 16:32

ARK Invest CEO Cathie Wood clarified that Binance was not responsible for the October 11 flash crash, addressing Binance founder Zhao Changpeng. Wood emphasized that while a software glitch occurred, it was not Binance that triggered the event. This statement was made on May 7, 2026, to ensure clarity on the matter. Previously, in a January 26 interview with FOX, Wood had mentioned a flash crash linked to a Binance software issue, which resulted in up to $28 billion in deleveraging. Her comments have sparked widespread discussion within the community regarding the October 11 incident.

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