CZ Says Binance Could Use Its $1 Billion SpaceX Stake to Cover Hack Losses
Photo: Coinpedia
CZ revealed that Binance holds more than $1 billion worth of SpaceX shares following its $500 million investment. Co-founder Yi He says Binance's annual revenue is sufficient to cover the shortfall without selling SpaceX shares. Former Binance CEO Changpeng Zhao (CZ) says the exchange could use its stake in Elon Musk’s SpaceX, now worth more than $1 billion, to cover losses from the $6.3 billion hack . However, co-founder Yi He said that the exchange may not need to sell the shares, as its yearly revenue is enough to cover the remaining shortfall.
Also reported by TheCoinrise, Finbold.
Source: Coinpedia
