MAROKO133 Eksklusif crypto: Binance’s October 10 Defense at Consensus Hong Kong Falls Flat

📌 MAROKO133 Hot crypto: Binance’s October 10 Defense at Consensus Hong Kong Falls

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.

The combination, he said, flipped global risk sentiment, triggering mass liquidations across all exchanges, centralized and decentralized alike.

“The US equity market plunged $1.5 trillion in value that day,” Teng said. “The US equity market alone saw $150 billion of liquidation. The crypto market is much smaller. It was about $19 billion. And the liquidation on crypto happened across all the exchanges.”

The majority of liquidations (roughly 75%) occurred around 9:00 p.m. ET, coinciding with the release of macro news.

Teng acknowledged minor platform issues during the event, including a stablecoin depegging (USDe) and temporary slowness in asset transfers.

However, he stressed these were unrelated to the broader market collapse. He also emphasized that Binance supported affected users, including by compensating some of them.

“…trading data showed no evidence of a mass withdrawal from the platform,” he added.

Last year, Binance reportedly facilitated $34 trillion in trading volume and served over 300 million users.

It is worth noting that the October 10 crash has been a persistent cause of Binance FUD over the past several months. The exchange has faced criticism from far and wide, with the heaviest attacks coming from rival exchange OKX and its CEO, Star Xu.

Traders Reject Teng’s Macro Shock Explanation Amid $19 Billion 10/10 Liquidation

Despite Teng’s detailed defense, traders on social media have responded swiftly and critically. On X (Twitter), users accused Binance of locking APIs and engineering conditions that forced liquidations, only to deflect responsibility with the “macro shock” explanation.

“Blaming macro shocks is the new ‘it was a glitch.’ $19B liquidated and somehow nobody at Binance is responsible lol,” one user challenged.

Naysayers go further, with some users likening Teng’s claims to colloquial phrases in harsh criticism.

“‘It wasn’t us, it was the macro’ is the crypto exchange version of the dog ate my homework. $19B in liquidations and every platform just points at the guy next to them,” another said.

However, the majority of responses revolved around alleged fake API responses and questioned internal coordination at Binance. The general sentiment is that users feel the exchange is not fully transparent.

The backlash illustrates the ongoing tension between centralized exchanges and leveraged traders during high-volatility events.

While retail demand has cooled compared to previous years, Teng highlighted that institutional and corporate participation in crypto remains strong.

“Institutions are still entering the sector,” he said. “Meaning the smart money is deploying.”

Teng also framed the 10/10 event as part of a broader cyclical pattern in crypto markets. He argued that despite short-term turbulence, the sector’s underlying development continues, with institutional capital driving long-term confidence.

Still, the exchange faces a twofold challenge:

• It must defend its role during unprecedented market stress
• Binance must also restore trust with a skeptical trading community.

While the $19 billion liquidation wiped out positions across the ma…

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📌 MAROKO133 Eksklusif crypto: How Polymarket Is Turning Bitcoin Volatility Into a

Prediction platform Polymarket recently launched a new feature that lets users bet on cryptocurrency price movements every five minutes.

The event signals rising demand for real-time crypto sentiment data among traders and investors.

Real-Time Sentiment Drives Short-Term Contracts

For now, the new market is limited to Bitcoin, though support for major altcoins is expected to follow.

Price will update dynamically, in tune with market sentiment and immediate price reaction. All trades will be executed on-chain to ensure transparency and security. 

The feature targets day traders and crypto enthusiasts looking for a fast-paced experience. With Bitcoin’s recent dip, price swings have grown increasingly erratic, amplifying short-term volatility.

The initiative builds on existing contracts with varying durations, ranging from 15-minute and hourly intervals to four-hour time frames. It also comes as prediction markets are seeing exponential growth in usage, with individual polls recording trading volumes in the hundreds of millions of dollars. 

It also reflects growing concern that shifting attention toward these platforms could distort crypto’s core purpose and use cases.

Market Weakness Fuels Betting Activity

Among the wide range of polls offered by prediction platforms such as Polymarket and Kalshi, a significant share involves crypto bets. More specifically, many of these contracts focus on forecasting the future price of major digital assets.

Interest in these wagers has surged in recent months. 

Tens of millions in trading volume have been directed toward Bitcoin’s February price alone, alongside heavily traded contracts linked to Ethereum, XRP, and Solana.

These forecasts have gained traction as the broader crypto market struggles to regain momentum. In this environment, volatility itself appears to be fueling participation, with traders using market weakness as an opportunity to place short-term bets.

While the proliferation of such polls has generated substantial trading activity, it is also drawing capital and attention away from underlying fundamentals.

Instead of sustained focus on integration or real-world use cases, crypto narratives risk shifting toward probabilities and crowd positioning.

Polymarket’s new five-minute betting feature further amplifies that dynamic.

If price-based wagering continues to attract more capital than long-term allocation, the market could increasingly revolve around price movements rather than durable value creation.

The post How Polymarket Is Turning Bitcoin Volatility Into a Five-Minute Betting Market appeared first on BeInCrypto.

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