BlockBeats News, January 31st, Dragonfly partner Haseeb stated that it is unreasonable for OKX Star to hold Binance accountable for the 1011 flash crash. Binance founder CZ retweeted the article and said, “Dragonfly was once one of OKX’s largest investors. Data speaks for itself, the timeline and the truth conflict. Glad to see people starting to understand the facts. I will try not to comment on this topic anymore. Let others talk about us, we focus on our work. There is still a lot of work to be done.”
In his view, Haseeb pointed out that the Bitcoin price had bottomed out against USDT on Binance about 30 minutes before the anomaly occurred, showing a clear inversion of cause and effect; at the same time, the USDT price deviation only occurred on Binance and did not spread to other exchanges, making it impossible to explain a large-scale liquidation across the entire market, which differs fundamentally from events such as Terra’s global balance sheet shock. Haseeb emphasized that the 1011 flash crash does not have a simple and conspiratorial “single perpetrator”; although the market suffered a heavy blow, it has not been permanently damaged in the long run and only needs time to restore liquidity and confidence.
