# CZ Says Binance Covered Losses From Reported $6.3 Billion Theft

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/47270
Published: 2026-11-03T04:07:27.000Z
Updated: 2026-11-03T04:07:27.000Z
Section: Technology

> He said the exchange used its own balance sheet and did not borrow, sell assets or raise financing. Wintermute also held a $101 million Bitcoin short position.

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. The position is separate from Binance’s reported theft, but adds a bearish market view to the crypto developments in the update.

U.S. company results also featured: Apple’s fourth fiscal-quarter revenue growth slowed and its shares fell nearly 3% after hours. Palantir’s third-quarter revenue increased 96% from a year earlier, while its stock fell 2.65% after hours.