Cathie Wood walks back claim linking Binance to Oct. 10 crash

Ark Invest CEO Cathie Wood has corrected a previous statement regarding the major market crash on Oct. 10 of last year. She clarified that while there was a software error, Binance did not trigger the sharp decline, adding that she wants market participants to have a clear understanding of the situation. Wood had previously mentioned a Binance software error in connection with a deleveraging event of approximately $28 billion during a January interview on Fox Business, which had sparked debate over the exchange's potential responsibility for the crash.