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. At the value he cited, the stake is worth more than twice the initial investment and could cover most of the remaining gap.

Zhao described the balance as painful but manageable. He had previously said the final loss might be somewhat higher and that Binance would cover it. His estimate leaves the exchange responsible for about $2 billion after the frozen funds and SAFU reserve are counted, with the SpaceX stake representing a potential source of coverage.