Binance may use $1B SpaceX-linked stake to cover hack losses, CZ says

Changpeng Zhao says Binance's SPCX shares, tied to its $500 million bet on Musk's Twitter deal, could help absorb an estimated $6.3 billion breach Binance may tap its stake in SpaceX, which Changpeng Zhao values at more than $1 billion, to help cover losses from a major security breach. The Binance founder says the exchange will make users whole and will not push the costs onto them. The pledge follows a breach on October 29–30, 2026, which is expected to cost the exchange approximately $6.3 billion. Binance moved quickly after the breach was detected.

Also reported by Coinpedia, TheCoinrise, Finbold.

Source: Crypto Briefing