Usyk and Fury were in talks over a world heavyweight undisputed fight for a couple of months but the fighter's teams could not come to an agreement.
The bout was pencilled in for April 29 at London's Wembley Stadium. The two champions agreed to a 70-30 purse split in Fury's favour after Usyk called the Brit's bluff but talks eventually broke down.
Krassyuk has indicated that this decision was made after they "got some proof" that the fight would not happen.
"There was a question, most frequently asked question and I want to use this opportunity straight away to say we pulled out of negotiations," Krassyuk told iD Boxing.
"Team Usyk did that, myself and Egis Klimas we took this decision when we realised and got some proof that the fight is not happening. So the question is off, team Usyk pulled out of negotiations, we initiated that."
He added: "This is very important because some people keep asking on social media, who did that, what happened?, so now it's completely clear, team Usyk pulled the plug out."
Krassyuk thinks Fury was "asking for something impossible" to wriggle his way out of the fight.
"Even if Oleksandr Usyk would get zero for the fight, it would still not be sufficient for Tyson to cover his [demands]," Krassyuk continued.
"Normally when a fighter doesn't want to fight, he asks for something impossible, and then it's not happening. That's according to my experience. I've been in boxing for almost 20 years and that's what I've seen so many times.
"When you're looking for an opponent for your fighter and finding a proper option, and he doesn't want to come, he says, 'pay me 100 instead of five'."
READ MORE: Boxing schedule for 2023... Every major fight night, dates, venues and results