CZ Clarifies He Did Not "Use Money" to Threaten Musk, Says SPCX Stake Only Cited to Show Ample Funds

October 31: Binance founder CZ tweeted a clarification after some interpreted his remarks about Musk as "threatening with money." CZ said the other side over-interpreted, and that he mentioned holding SPCX shares only because someone in the relevant discussion drew a comparison with FTX, possibly implying Binance was short of funds — which is not the case. He simply wanted to show that Binance holds assets beyond cryptocurrency, in an area Musk is familiar with.

CZ stressed: "I never threaten people. That's one of the core principles I wrote about in my book as well." He also noted that Binance's holding is just "a drop in the bucket" for them and cannot be a threat at all, and that he believes SPCX will be one of the quality stocks worth holding long term.