He Yi responded to the market fluctuation controversy, clarifying the rumors of downtime, decoupling, and Long Wick Candle.

Wu reported that He Yi stated that the three types of FUD (fear, uncertainty and doubt) regarding market fluctuations are inconsistent with the facts: Firstly, regarding “Binance downtime”, a review confirmed that the core contracts, Spot matching engine, and API of Binance remained stable during the incident, and the liquidation volume accounted for a normal low proportion of the total volume, with fluctuations mainly driven by the market; however, after 05:18 (UTC+8) on October 11, there were indeed temporary lags in some platform functions, and some financial products experienced decoupling due to severe market conditions. Secondly, regarding “platform decoupling leading to market decline”, it was actually a fall followed by decoupling; Binance has initiated and completed compensation of over $280 million within 24 hours for users who were liquidated due to using decoupled assets as collateral. Thirdly, regarding “long wick candle harvesting”, Binance contracts use a mark price mechanism, and extreme prices will be excluded, which does not affect the triggering of liquidation.