This morning, Binance introduced a $1 billion buy of bitcoin (BTC) from its SAFU fund. Sadly, the swap from its stablecoin reserves did little to restore confidence from catastrophic liquidations that originated on the trade throughout the October 10, 2025 crypto crash.
On that date, Donald Trump threatened China with an unprecedented, 100% import tariff price. Buyers duly panicked.
Because of this, BTC tanked 14% whereas smaller digital property skilled even worse sell-offs. At its worst second, the native coin of Cosmos’ blockchain traded 99.99% decrease on Binance.
Rumors (which Binance by no means confirmed) circulated that the trade or certainly one of CZ’s funds secretly stepped in with their very own capital to purchase unfairly low-cost cash throughout the panic.
By no means seen sentiment this unhealthy about Binance and CZ. Even their most staunch supporters have turned in opposition to them..
— CoinMamba (@coinmamba) January 27, 2026
At its $83,000 value at time of writing, BTC is down 32% from its $122,000 begin on October 10. The asset additionally traded over $80 billion value of quantity over the past 24 hours, including additional doubt to the significant impression of Binance’s $1 billion purchase.
Crypto markets haven’t recovered since October 10
Two days after the October 10 incident, a viral publish from ElonTrades positioned blame for $19 billion value of liquidations totally on Binance.
The skeptic questioned Binance’s oracle design flaw and a cross-margin, Unified Account downside with the USDE stablecoin.
On that day, curiously low costs for a lot of property solely existed on Binance. Furthermore, Binance partially, tacitly admitted to the idiosyncratic position it performed in sure buying and selling pair crashes by paying out a whole bunch of tens of millions of {dollars} in restitution, whereas disclaiming any precise duty in those self same weblog posts.
Particularly, Binance paid $283 million to “Futures, Margin, and Loan users who held USDE, BNSOL, and WBETH as collateral and were impacted by the depeg.”
As well as, the corporate dedicated $100 million in low-interest loans plus $300 million in Rewards Hub vouchers “to eligible users who lost at least $50 during a forced liquidation.”
Furthermore, Binance paid one other $45 million to BNB memecoin traders who misplaced cash.
Unimpressed by these payouts after $19 billion value of industry-wide liquidations and mark-to-market losses of as much as $600 billion throughout its worst moments, legal professionals rapidly invited victims to hitch class motion lawsuits.
The pinnacle of OKX referred to as Binance’s injury from October 10 “real and lasting.”
