Richard Teng: Oct 10 Crash Caused by Macro Events, Not USDe Depeg

Multiple independent and credible reports directly attribute this statement to Richard Teng. A BeInCrypto post on Binance Square quotes him defending Binance and attributing the October 10 crash to macroeconomic events. The Binance Blog on Binance Square adds institutional context, acknowledging separate platform incidents while asserting they were unrelated to the 10/10 flash crash, reinforcing the macro-cause narrative. Yahoo Finance’s coverage of Teng’s remarks at Consensus Hong Kong cites macroeconomic and geopolitical factors as the causes. Additional industry outlets (MEXC and CryptoRank) explicitly report Teng’s claim that macro shocks, not USDe depegging, drove the event. While some analyses emphasize USDe depegging and leverage dynamics during the crash (and Messari-type tracking shows USDe stress), those pieces challenge the accuracy of Teng’s causal explanation but do not refute that he made the statement. Given consistent, direct reporting from reputable and semi-primary channels, it is highly likely Teng stated that the crash was caused by macroeconomic events and not by USDe depegging.