Vitalik Buterin on CZ accusing Ethereum of crashing the market on 10/10:
" Blaming Ethereum’s gas fees for the $19B+ liquidation cascade on 10/10 is not just wrong it’s a deliberate deflection.
Gas spiked because your platform (and others) pumped insane leverage on high risk products like Ethena USDe, marketed as “safe 12% yield” collateral.
When macro hit (tariffs, whatever), the house of cards collapsed forced sells, cascading liquidations, opaque engines amplifying everything.
Ethereum congestion was a minor footnote. The real trigger? Over leveraged retail getting wrecked on centralized platforms that profit from the casino, then reimbursing $283M after the fact to look “SAFU” while pointing fingers elsewhere.
That’s not leadership. That’s damage control and scapegoating. "
