Ark Invest CEO Cathie Wood attributes the historic $28 billion flash crash in October to Binance's "software malfunction," but former CEO Zhao Changpeng refutes this claim, calling it an "organized attack." Competitor OKX CEO Xu Xing criticizes Binance for exploitative behavior, while industry analysts point out that liquidity issues with assets like wBETH are one of the reasons for the market weakness.

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