CZ: Binance's Hack Loss Gap Is About $2 Billion, SPCX Holdings Can Cover Most

October 30 — Changpeng Zhao (CZ) said in a post on X that Binance's loss from this hack was about $6 billion-plus, of which $3 billion has been frozen, with about $1 billion-plus from the SAFU fund, leaving a gap of about $2 billion. CZ said Binance holds SPCX shares worth more than $1 billion, and the remaining gap is "still painful, but manageable." These shares come from the $500 million Binance invested when it took part in Musk's acquisition of Twitter. CZ previously said the actual loss may be slightly higher, but Binance will bear it.