Cathie Wood walks back Binance flash crash claim: 'It was not Binance' that triggered the Oct 10 event.

ARK Invest CEO Cathie Wood publicly clarified on May 7, 2026, that Binance did not trigger the October 10th flash crash — a direct reversal of remarks she had made months earlier. Addressing Binance founder CZ, Wood stated: "We know there was a software glitch but Binance did not trigger the October 10th flash crash. I want to make sure everyone understands that. We know it was not Binance."

The correction matters because Wood's original comments, made during a FOX Business interview on January 26, had linked the flash crash to a software glitch on Binance and described a $28 billion deleveraging event — language that ignited significant community debate and reputational scrutiny of the exchange.

The clarification leaves the root cause of the October 10th crash and its $28 billion deleveraging still formally unattributed, with a software glitch acknowledged but its origin unspecified.