OKX Clarifies Market Events Amid ‘1011 Flash Crash’ Claims

OKX Star addressed Zhao Changpeng’s recent X post regarding the “1011 flash crash,” emphasizing Bitcoin’s decline before dollar decoupling and denying Dragonfly’s investment in OKX.

This clarification aims to quell further discussions on market disruptions and leverage’s impact, highlighting concerns over structural market vulnerabilities and influential figures’ statements.

OKX Explains October 11 Flash Crash and Bitcoin Dip

OKX Star’s recent communication on X elaborates on the company’s stance regarding the October 11 “flash crash”. Bitcoin began declining roughly 30 minutes before the event, with OKX Star emphasizing the disturbance caused by market overreliance on leverage. Dragonfly’s reported lack of investment in OKX was highlighted in this statement.

Market dynamics have changed, following OKX Star’s transparency about the chain sell-offs and leverage cycles affecting the crash. As such, speculative activities have come under scrutiny, potentially altering how exchanges manage leverage in future transactions.

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Reactions included former Binance CEO Zhao Changpeng’s emphasis on clarifying facts over debate. “He does not like debates because you can never wake up a person pretending to be asleep, but clarifying the facts is crucial: Bitcoin began to decline about 30 minutes before decoupling from the dollar… Dragonfly has never invested in OKX… There will be no more time spent discussing topics related to the ‘1011 flash crash’.” source

He reiterated his position on market commentary, suggesting facts need to take precedence to avert misinformation within the cryptocurrency community.

Bitcoin Volatility and Centralized Exchange Trust Examined

Did you know? Bitcoin’s market volatility often coincides with regulatory uncertainties, highlighting how crucial exchange transparency is within such environments. Such events can drastically reshape trading volumes and market sentiment.

According to CoinMarketCap as of January 31, 2026, Bitcoin (BTC) holds a market cap of $1.65 trillion, securing a 59.20% dominance in the market. With a current price of $82,756.21, Bitcoin has seen a 0.13% price increase in the past 24 hours, despite a 7.41% loss over the last seven days. The recent 24-hour trading volume is recorded at $49.2 billion, showcasing a significant drop of 40.59%.

Analysis from the Coincu research team suggests that the transparency shown by OKX could foster trust in centralized exchanges, elevating sector standards during volatile events. Historically, regulatory insight often impacts Bitcoin’s price sentiment, compelling stakeholders to adapt to an evolving governance landscape. Learn more about Web3 innovations shaping the cryptocurrency landscape.