Richard Teng: Oct 10 Crash Was a Macro Event, USDe Depeg Was Not the Trigger On Feb 12 at Consensus Hong Kong 2026, Binance Co-CEO Richard Teng addressed the "Oct 10 Crash" controversy, stating the mass liquidation was primarily a macro event. He noted U.S. 100% tariffs wiped $1.5 trillion from equities, while crypto liquidations were just $19 billion—not a Binance-specific issue. Regarding the USDe depeg and transfer delays, Teng stressed these occurred after most liquidations and didn't cause the crash. Still, Binance took full responsibility with goodwill payments. He noted some users mistakenly expected full compensation, but reiterated that "traders must also bear market risks." Source: Consensus Hong Kong 2026