Ark Invest CEO Cathie Wood clarified her previous claims regarding the October 10 “sudden crash” that caused significant controversy in the cryptocurrency markets, correcting her statements about Binance.
In a recent podcast with Binance founder CZ (Changpeng Zhao), Wood addressed statements he previously made on a news program, which received widespread attention, particularly in Chinese media. Wood argued that the market crash on October 10th was attributed to a software error, but that it was not triggered by Binance.
Cathie Wood stated that the tariffs and general economic uncertainties in the markets at that time had made investors quite uneasy. While Wood acknowledged that technical glitches at Binance may have worsened the situation, she made it clear that the exchange was not the main trigger for the crash.
CZ, a guest on the program, expressed his satisfaction with Wood’s correction. He stated that Wood’s previous comments had been taken out of context and presented in Chinese media as “Binance being responsible for the crash,” and that this clarification was crucial in clearing up any misunderstandings.
Wood noted that institutional investors see correction periods as an opportunity and are beginning to enter the market, while CZ expressed hope that “the worst may be behind us” with Bitcoin finding support around the $60,000 level.
*This is not investment advice.
