Binance’s October 10 Defense at Consensus Hong Kong Falls Flat

Binance Co-CEO Richard Teng has defended the exchange against claims that it was responsible for the October 10, 2025, “10/10” crypto crash, which saw roughly $19 billion in liquidations. Speaking at CoinDesk’s Consensus Hong Kong conference on February 12, 2026, Teng argued the sell-off was driven by other factors besides any Binance-specific failures. Richard Teng Gives Binance’s Side of the Story on October 10 Crash The Binance co-CEO cited macroeconomic and geopolitical shocks between the US and China. Specifically, he cited: Fresh US tariff threats, including potential 100% duties on Chinese imports, and China’s imposition of rare-earth export controls source: https://beincrypto.com/binance-ceo-defends-october-crash-consensus-hong-kong/