Ex Binance CEO 'CZ' on Market Crash: 'This Is Why We Never Stop Building'

Key Points

1. Cryptocurrency markets experienced significant volatility, with over $758 million in leveraged positions liquidated, mostly longs.

2. CZ tweeted, 'This is why we never stop building,' highlighting a long-term vision for the crypto market.

3. Bitcoin saw profit-taking after reaching record highs, with $6 to $8 billion in realized gains reported in late July.

4. Major cryptocurrencies like Ethereum, XRP, Solana, and BNB also faced price declines following Bitcoin's drop.

5. Despite the sell-off, Bitcoin and Ethereum liquidations remained relatively low, according to Glassnode.