Why is CZ expecting limited Bitcoin downside from the $6.3B Binance hack?
Photo: AMBCrypto
Binance founder Changpeng Zhao (CZ) has echoed ongoing discussions that the $6.3B hack won’t negatively impact Bitcoin’s value. According to CZ, the Binance exploit's exposure to BTC is relatively small, 18,270 BTC compared to Mt. Gox’s 650,000 BTC. That’s less than 1%, while Mt. Gox's exploit involved 5% of the total BTC supply. CZ added, Number of users impacted, and % of user assets impacted. Mt. Gox (the largest CEX at the time) and FTX (not small) were all near 100% of users and their assets.
Source: AMBCrypto
