Recently, CEO and Chief Investment Officer ARK Invest Cathie Wood explained her position on the topic that there was a technical failure on Binance played a significant role in increasing crypto market volatility on October 10, 2025, but was not the cause of its collapse.
Let us remember that on this date the market experienced one of its most powerful cascades of liquidations in history. In a matter of hours Bitcoin fell by almost 14%, while altcoins on some platforms fell by 60-90%.
At the same time, Donald Trump announced 100% tariffs on Chinese imports, triggering a global sell-off that overflowed order books, triggered automatic deleveraging mechanisms, and removed approximately $28 billion in leverage from the system.
Earlier this year, Katie Wood gave interview Fox Business, in which it listed the reasons for cryptocurrency’s lag behind such growing traditional assets as gold and silver, included a software glitch. Binance, which caused a decrease in leverage.
From that moment on, the media began to portray Binance as the main “villain” that brought down the marketIn these circumstances, the co-founder Binance He Yi and CEO OK Star Xu was forced to say that the collapse was the result of macroeconomic shocks, and not the exchange’s internal errors.
В recent conversation with the founder Binance Changpeng Zhao Wood stressed that while the software glitch could have exacerbated local price fluctuations, Binance, it did not cause a global collapse.
Now, according to research ARK Invest, the market is at a bottom, and institutional support is stabilizing the situation. What this sector currently needs is gradual development and reliable and transparent clearing mechanisms to prevent destructive cascading surges in the future.
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