Binance Co-CEO Richard Teng responded to claims that the exchange triggered the $19 billion liquidation wave on October 10. He attributed the event to external macroeconomic and geopolitical factors, such as new U.S. tariffs on China, and emphasized that Binance’s data showed no signs of abnormal withdrawals. Teng highlighted that institutional participation in crypto remains strong, even as retail interest wanes. Binance also completed a $1 billion Bitcoin purchase for its Secure Asset Fund for Users (SAFU), further demonstrating its commitment to digital assets.