Home / Business and Economy / Binance CEO: SpaceX Shares Not for Sale After Hack
Binance CEO: SpaceX Shares Not for Sale After Hack
30 Oct
Summary
- Binance co-founder stated annual revenue covers $6.3 billion hack losses.
- SpaceX shares are not being sold to cover the cryptocurrency platform's deficit.
- Binance holds $1.x billion in SpaceX investments, according to founder.
Binance has confirmed that its annual revenue is adequate to offset the substantial losses incurred from a recent hack. Hackers reportedly stole $6.3 billion from the cryptocurrency platform.
Co-founder Yi He clarified via a post on X that the company does not need to liquidate its SpaceX shares. This is a significant detail, as Binance founder Changpeng Zhao had previously mentioned the platform's investment in SpaceX alone was valued at $1.x billion.
The statement from Binance aims to address concerns regarding financial stability following the major security breach. The assertion that operational revenue can cover the stolen funds suggests resilience within the crypto giant.
