Binance is pushing back against claims that it played a central role in the 
massive liquidation wave that swept through crypto markets on October 10, an 
event widely described as the largest in the industry’s history. In the 
aftermath of roughly $19 billion in wiped‑out positions, some market 
participants accused the exchange of manipulating prices for its own gain. 
Binance co‑CEO Richard Teng has now addressed those allegations directly, 
insisting the platform was not “the sole trigger” of the turmoil and that the 
selloff hit the entire digital asset ecosystem. Binance Co-CEO Breaks Down 
$19B Liquidation Event Speaking about the incident, Teng said the sharp 
downturn was not isolated to Binance. Both centralized and decentralized 
exchanges experienced comparable spikes in liquidations at the same time, he 
noted. According to him, intense selling pressure emerged across trading 
venues as volatility surged. Teng attributed the market shock to external 
forces rather than internal exchange activity. He pointed to a mix of 
macroeconomic and geopolitical developments, including new US tariffs on China 
and broader uncertainty in global financial markets. These factors, combined 
with highly leveraged positions across crypto derivatives markets, created 
what he described as a “classic leverage flush.” Related Reading: Is Bitcoin 
Already Pricing A US Recession? Analyst Sees Major Risk‑Reward Setup Teng drew 
comparisons to traditional markets, noting that US equities lost $1.5 trillion 
in value on the same day, with about $150 billion in liquidations occurring in 
equities alone. By contrast, the crypto market—significantly smaller in 
size—saw $19 billion in forced position closures, spread across all major 
exchanges. While acknowledging that many users suffered losses, Teng said 
Binance took steps to support affected customers, adding that other exchanges 
did not implement similar measures. He also stressed that there were no signs 
of abnormal mass withdrawals from Binance during the episode. According to the 
company, there were no indications of internal technical failures or systemic 
weaknesses. The price action, Teng argued, was driven by exogenous market 
forces rather than any exchange‑specific issue. SAFU Fund Hits $1 Billion In 
BTC Despite the volatility, Teng struck a cautiously optimistic tone about the 
broader trajectory of digital assets. He said institutional investors continue 
to allocate capital to the sector, describing their participation as evidence 
that “smart investors are putting money to work.” While retail demand has 
softened compared to last year, he said investment from institutions and 
corporations remains resilient. In his view, the long‑term development of the 
industry should be judged by its fundamentals rather than short‑term price 
swings. Related Reading: UNI Rallies 10% As BlackRock Brings Treasury‑Backed 
BUIDL Token To Uniswap Alongside its comments on the liquidation event, the 
exchange announced it has completed a previously outlined $1 billion Bitcoin 
purchase plan for its Secure Asset Fund for Users (SAFU). The exchange 
acquired 4,545 BTC worth approximately $304.58 million, bringing the reserve 
wallet’s total holdings to 15,000 BTC, currently valued at about $1.005 
billion. Binance also stated that if the fund’s value falls below $800 million 
due to market declines or legal expenses, it will automatically replenish the 
balance back to $1 billion. At the time of writing, the exchange’s native 
token, BNB, is trading at $605. It has registered losses of 5% and 29% over 
the last seven and fourteen days, respectively. Featured image from OpenArt, 
chart from TradingView.com

Binance Co-CEO Breaks Silence, Provides Insight On October 10 Liquidation Event

Fiserv launches a 24/7/365 settlement platform for digital asset companies, 
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Corporate bitcoin accumulation accelerated in January, but according to 
bitcointreasuries.net, nearly all the momentum came from a single heavyweight. 
4.08 Million BTC Held Across Entities, Says Bitcoin Treasuries Report The 
January 2026 Corporate Adoption Report from bitcointreasuries.net shows that 
public and private entities added 43,228 BTC during the month, valued at 
roughly $3.5 billion based […]

Strategy Devours January Bitcoin Buying, Claims 97.5% of Corporate Additions

The move strengthens institutional support for 21Shares’ multibillion dollar 
digital asset investment platform and broadens its regulated staking 
capabilities.

21Shares taps BitGo for expanded regulated staking, custody support across US, Europe

Ethereum whales have continued to accumulate despite the current downtrend in 
the ETH price, providing a bullish outlook for the second-largest crypto by 
market cap. Notably, ETH withdrawals from exchanges recently reached their 
highest level since October last year, totaling over $400 million. Ethereum 
Whales Accelerate Withdrawals From Exchanges Crypto analyst Arab Chain noted 
in a CryptoQuant analysis that rising Ethereum withdrawals from exchanges have 
reached their highest level since October. The analyst noted that the exchange 
netflow data over the past few days indicates a clear acceleration in 
withdrawal activity. This signals a shift in Ethereum whales&#8217; behavior as 
demand outpaces supply. Related Reading: Can Ethereum Price Still Hit $7,600 
In 2026? Here Are The Odds Arab Chain revealed that across all exchanges, the 
net Ethereum outflows have exceeded 220,000 ETH, marking the highest level of 
withdrawals since October last year. This suggests that Ethereum whales are 
moving their coins to private wallets or long-term storage protocols, a move 
that the analyst noted is often associated with accumulation phases or risk- 
reduction behavior. Notably, daily net outflows on Binance reached nearly 
158,000 ETH on February 5, the largest since August last year. Arab Chain 
stated that this confirms that a substantial portion of the recent outflows 
has been concentrated on the exchange with the deepest liquidity. From a price 
perspective, the analyst noted that the Ethereum whale accumulation coincided 
with ETH trading near the $1,800 to $2,000 range. Therefore, these Ethereum 
whales may see these levels as attractive zones for holding or repositioning 
amid this crypto market downtrend. Arab Chain added that the continued outflow 
of ETH from exchanges at this scale reduces immediate selling pressure and 
could provide near-term support for the ETH price, especially if the market 
gains momentum again. Ethereum Staking Hits New High According to Token 
Terminal, Ethereum staking has surpassed 30% of the total supply, marking a 
new all-time high (ATH) in terms of staking ratio. Market commentator The Milk 
Road noted that this means that 36.8 million ETH, around $72 billion, is now 
locked up, with almost 1 million validators securing the network. Related 
Reading: Ethereum Price Set To Break Out Against Bitcoin, But How High Can It 
Go? The Milk Road further described this development as a sign of conviction 
in the Ethereum ecosystem, noting that these whales are willing to lock up $74 
billion during a market downtrend. Notably, the staking exit queue is around 
4.1 million ETH, which the market commentator remarked is nothing compared to 
what is currently staked. Interestingly, it also takes about 72 days to stake 
ETH at the moment, with staking demand at a new high. Meanwhile, the Milk Road 
also noted that the obvious impact is a significant supply restriction, which 
is a bullish catalyst for the ETH price. At the time of writing, the Ethereum 
price is trading at around $1,965, down in the last 24 hours, according to 
data from CoinMarketCap. Featured image from Pixabay, chart from 
Tradingview.com

Cryptocurrency price in SEK