CZ Says Binance’s SPCX Holdings Can Cover Most of a $2 Billion Gap

Binance’s remaining shortfall from a hack is about $2 billion, CZ said, adding that the exchange’s SPCX holdings, worth more than $1 billion, can cover most of the gap. CZ estimated total losses from the incident at more than $6 billion. He said $3 billion had been frozen and put Binance’s SAFU fund at more than $1 billion. In his accounting, those amounts leave about $2 billion uncovered. He described the remaining amount as painful but manageable. Binance’s SPCX holdings are valued at more than $1 billion, CZ said, and can cover most of the remaining gap.