The former CEO of Binance, Changpeng 'CZ' Zhao, has denied the accusations that the cryptocurrency exchange played a role in the largest liquidation event in the history of cryptocurrencies, a massive sell-off whose effects are still being felt in the markets more than three months later.

Zhao described the claims that Binance was responsible for the crash as ridiculous. Since the market-wide sell-off, cryptocurrency prices have struggled to recover.