CZ Says Binance's $2 Billion Hack Gap Is Manageable With SpaceX Stake

Changpeng Zhao said Binance’s roughly $6 billion loss from a hack leaves a $2 billion gap, which he called manageable because the exchange holds more than $1 billion in SpaceX shares. In a post on X Friday, Zhao said about $3 billion had been frozen and Binance’s SAFU fund held roughly $1 billion. He said those amounts left about $2 billion uncovered. Zhao put Binance’s SpaceX shares above $1 billion in value. He said the position came from Binance’s $500 million investment in Elon Musk’s acquisition of Twitter.