Binance Blames “Display Issue” Behind Altcoin Crash to | Crypto Work Pro
Two days after a number of altcoins on Binance crashed to zero, the cryptocurrency exchange issued a assertion at present (Monday), blaming the incident on a “display issue”.
Digital property meet tradfi in London on the FMLS25.
Manipulation or a Glitch?
IoTeX, Cosmos, and Enjin are amongst a number of cryptocurrencies whose worth on Binance hit $0 final Friday. However, their values have been a lot increased than $0 on different centralised crypto exchanges on the identical time.
“Certain trading pairs (such as IOTX/USDT) recently reduced the number of decimal places allowed for minimum price movement, causing the displayed prices in the user interface to be zero, which is a display issue and not due to an actual zero price,” Binance famous.
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The assertion got here amid a collection of allegations of market manipulation on Binance by industry specialists.
“Binance will optimise the UI display and apply UI display corrections for related abnormal prices,” the exchange continued.
Manipulation of USDe, wBETH and BNSOL started round 21:14 UTC.You can zoom in on the minute chart of $SUI, $ATOM or every other altcoin and see the correlation. For people saying the depeg/manipulation occurred after alts bottomed. Nonsense. You have to zoom in, these items… pic.twitter.com/1fBPfEoT5l
— ElonTrades (@ElonTrades) October 12, 2025
The Largest Crypto Liquidation
The weekend crypto flash crash resulted within the liquidation of $19 billion in crypto positions, which is the best in historical past.
The market additionally witnessed the depegging of USDE, BNSOL, and WBETH. Ethena’s USDe artificial greenback dropped to $0.65. According to Binance, “the extreme market downturn occurred before the depegging.”
Binance additionally mechanically bought off collateral altcoins to cowl losses, creating a suggestions loop that pushed costs down quickly. The exchange later introduced that it had paid out $283 million to cowl losses from Friday’s depegging.
The crypto exchange additional defined that the one-sided liquidity challenge additionally triggered the acute sell-off during the turbulent hours.
“Historical limit orders (some dating back years, as far as 2019, e.g., IOTX, ATOM) had remained open on the platform,” Binance added. “During the extreme market sell-off and the lack of buying orders, sell orders continued to execute against these long-standing limit orders, pushing token prices to drop sharply for a short time.”
While Binance blamed the UI glitch and one-sided liquidity for the sudden drop in costs, Crypto.com’s CEO, Kris Marszalek, known as for a regulatory investigation into exchanges that confronted heavy liquidity points, with out naming Binance.
This article was written by Arnab Shome at www.financemagnates.com.
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