CZ Unfollows Solana Co-Founder on X Amid Dispute Over Market Crash Allegations
Following new sarcastic remarks from Toly about Binance’s role in October’s crypto flash crash, CZ’s unfollow deepens public tensions between the two industry figures.
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Summary
Binance founder Changpeng Zhao (CZ) unfollowed Solana co-founder Anatoly Yakovenko (Toly) on X after Toly reposted OKX Star’s criticism alleging Binance marketing contributed to October’s crypto flash crash. Toly added a sarcastic comment referencing an 18-month recovery period, likely alluding to Solana’s rebound after the FTX collapse. The incident has intensified public disputes over the perceived influence of major exchanges in market volatility.
Terms & Concepts
- Market liquidation: Forced closure of leveraged positions when collateral is insufficient, often triggering rapid sell-offs.
- Crypto flash crash: A sudden, steep drop in the price of cryptocurrencies, typically occurring within minutes due to market imbalances or technical factors.