Doctor Profit Says Binance May Need $3.3 Billion in Crypto Rebuys
Photo: TokenPost
Crypto trader Doctor Profit said Friday Binance may need to buy about $3.3 billion in crypto to replace unrecovered assets tied to the incident, if no additional funds are frozen. Doctor Profit estimated the incident involved about $6.3 billion, of which roughly $3 billion had been frozen. His calculation assumes Tether and Circle reissue corresponding assets. After that, he put the remaining shortfall at about $3.3 billion, or 2.05% of Binance’s total assets. Under that scenario, he said Binance would need to repurchase about $3.3 billion in crypto, including Bitcoin (BTC). Binance has not specified a purchase amount.
Source: TokenPost
