Yi He Says Binance Revenue Can Cover Losses Without Selling SpaceX Shares

Yi He said Binance's annual revenue is enough to absorb its losses, so the exchange does not currently need to sell its SpaceX shares.

In a post Friday, Oct. 30, Yi He said annual revenue could cover the losses. The statement framed revenue as sufficient to absorb them without selling the SpaceX holding.

CZ put a gap tied to funds stolen from Binance at about $2 billion. CZ also said an SPCX holding worth more than $1 billion could cover most of that amount.

The comments put the revenue claim alongside the separate possibility of using the SPCX holding to cover the gap. Annual revenue is money earned over the course of a year, while selling shares would convert an existing holding into cash. Yi He's statement says Binance does not need to use that option at this point.

The figures distinguish the estimated gap from the value of assets CZ said could cover most of it. Yi He's position is that Binance can cover its losses through revenue while retaining its SpaceX holding.