CZ Says Binance Covered Losses From Reported $6.3 Billion Theft

Binance covered losses tied to a reported $6.3 billion theft using its own balance sheet and did not borrow, sell assets or raise financing, CZ said, outlining the exchange’s response to the incident. His account centered on the funding method: Binance relied on its own balance sheet rather than borrowing, selling assets or raising financing. That description addresses how the exchange covered the reported loss. Separately, crypto trading firm Wintermute held a $101 million short position and warned Bitcoin (BTC) could fall further.