Musk Mocks Binance After $6.3B Hack; Zhao Hits Back With SpaceX Stake

setn.com (Chinese) —

Binance, the world's largest cryptocurrency exchange, suffered a $6.3 billion hack by North Korean hackers, prompting Elon Musk to mock its potential collapse. Binance founder Changpeng Zhao responded defiantly, citing his SpaceX shares. Zhao stated Binance holds over $1 billion in SpaceX stock from a $500 million investment in Musk's Twitter acquisition. He argued this, combined with frozen assets and a user protection fund, leaves a manageable funding gap of roughly $2 billion. The exchange has frozen $3 billion in assets and holds over $1 billion in its SAFU fund. Zhao urged Musk for support rather than criticism, referencing FTX's collapse as an inappropriate comparison during the crisis.


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