{"id":69882,"date":"2026-01-29T14:16:31","date_gmt":"2026-01-29T14:16:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=69882"},"modified":"2026-01-29T14:16:31","modified_gmt":"2026-01-29T14:16:31","slug":"okx-ceo-blasts-binance-over-oct-10-crypto-crash-cites-lasting-damage","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=69882","title":{"rendered":"OKX CEO Blasts Binance Over Oct. 10 Crypto Crash, Cites \u2018Lasting Damage\u2019"},"content":{"rendered":"
\n

OKX founder and CEO Star Xu took aim at a rival \u201cindustry-leading company\u201d over the market dislocation tied to Oct. 10, arguing the episode did more than trigger a brief liquidation cascade \u2014 it inflicted \u201creal and lasting damage\u201d on crypto\u2019s credibility with users and regulators.<\/p>\n

OKX CEO Slams Binance As Crypto Still Digests Oct. 10<\/h2>\n

In a post on X, Xu said the industry has \u201cunderestimated the impact of 10\/10,\u201d framing the event as a trust shock rather than a routine volatility episode. While he did not name Binance or its founder Changpeng Zhao (CZ) directly, the timing and context of the remarks and subsequent discussion on X tying Oct. 10 to a Binance-related incident<\/a> made the target clear to many readers.<\/p>\n

Xu\u2019s central claim was that leading platforms should prioritize resilience and legitimacy, especially when scrutiny from regulators and mainstream institutions is rising. \u201cAn industry-leading company should focus on strengthening core infrastructure, building trust with global users and regulators, and protecting the long-term interests of the majority of crypto users, setting an example for others to follow,\u201d Xu wrote.<\/p>\n

\u201cInstead, some chose to pursue short-term gains\u2014repeatedly launching Ponzi-like schemes<\/a>, amplifying a handful of \u2018get-rich-quick\u2019 narratives, and directly or indirectly manipulating the prices of low-quality tokens, drawing millions of users into assets closely tied to them.\u201d<\/p>\n

That critique broadens the Oct. 10 incident from a single failure event into a pattern: attention capture through high-risk token promotion and narratives, rather than a steady focus on market integrity. Xu argued that this approach turns exchanges into traffic machines optimized for \u201cshortcuts,\u201d at the expense of durable confidence.<\/p>\n

This approach does not build an industry,\u201d he added. \u201cIt erodes trust\u2014and ultimately, everyone pays the price.\u201d
\nThe post landed as parts of crypto Twitter were already revisiting Oct. 10 as a possible inflection point for recent market lull.<\/p>\n

\n

People have underestimated the impact of 10\/10. The incident caused real and lasting damage to the industry.<\/p>\n

An industry-leading company should focus on strengthening core infrastructure, building trust with global users and regulators, and protecting the long-term interests of\u2026 https:\/\/t.co\/DIU57u8utU<\/a><\/p>\n

\u2014 Star (@star_okx) January 28, 2026<\/a><\/p>\n<\/blockquote>\n

X account CryptosRus cited a Cathie Wood<\/a>\u2019s interview where she described the last \u201c2\u20133 months\u201d as an \u201caftershock\u201d from an Oct. 10 \u201cflash crash\u201d tied to \u201ca Binance software glitch\u201d that \u201cforced ~$28B of deleveraging across crypto.\u201d In that framing, bitcoin absorbed the brunt \u201cbecause it\u2019s the most liquid asset,\u201d and the forced selling is \u201cmostly done,\u201d shifting the market\u2019s focus back to cycle positioning.<\/p>\n

Some industry figures responded by framing the dispute as another round in centralized exchange rivalry. Moonrock Capital founder Simon Dedic wrote: \u201cOKX attacking Binance. One shady CEX attacking the other shady CEX for extracting even more value than they do. As long as this fight costs at least one of them market share, that\u2019s a net positive for the industry.\u201d<\/p>\n

\n

OKX attacking Binance.<\/p>\n

One shady CEX attacking the other shady CEX for extracting even more value than they do.<\/p>\n

As long as this fight costs at least one of them market share, that\u2019s a net positive for the industry. https:\/\/t.co\/nCFTz0Kinc<\/a><\/p>\n

\u2014 Simon Dedic (@sjdedic) January 28, 2026<\/a><\/p>\n<\/blockquote>\n

Others used the moment to contrast opaque venues with on-chain alternatives. The Rollup\u2019s CEO Andy C said \u201cBinance is crooked and opaque,\u201d arguing that \u201cHyperliquid is open, permissionless finance for all.\u201d Flood, CEO of Fullstrack.trade, went further, writing that crypto \u201cwill never have a truly great era and reach mainstream adoption as long as Binance is the dominant exchange.\u201d<\/p>\n

\n

Binance is crooked and opaque.<\/p>\n

Hyperliquid is open, permissionless finance for all. There\u2019s one winner here. https:\/\/t.co\/o1Mcx2augA<\/a><\/p>\n

\u2014 Andy (@andyyy) January 28, 2026<\/a><\/p>\n<\/blockquote>\n

At press time, CZ had not publicly responded to the allegations, while BNB showed no immediate market reaction.<\/p>\n

\"Binance<\/div>\n","protected":false},"excerpt":{"rendered":"

OKX founder and CEO Star Xu took aim at a rival \u201cindustry-leading company\u201d over the market dislocation tied to Oct. 10, arguing the episode did more than trigger a brief liquidation cascade \u2014 it inflicted \u201creal and lasting damage\u201d on crypto\u2019s credibility with users and regulators. OKX CEO Slams Binance As Crypto Still Digests Oct. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-69882","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/69882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69882"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/69882\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}