🔶BNB reached a new record of $1,370, outperforming the broader crypto market in its rebound from the recent $19 billion liquidation wave. The surge came despite trader complaints about Binance outages during the sell-off. Co-founder Yi He clarified that the disruptions were caused by market volatility, not technical issues, and the exchange later compensated users with $283 million.
🔶The rally reignited debate over the transparency of centralized exchanges (CEXs). Jeff Yan, CEO of Hyperliquid, suggested that CEXs might underreport liquidation data, while analysts linked the crash to a $700 million transfer by market maker Wintermute shortly before the market downturn.