CZ and He Yi Respond to Binance Losses: Annual Revenue Sufficient to Cover, Will Not Sell SpaceX Shares for Now

On October 30 that Binance co-founders CZ (@cz_binance) and co-founder and Chief Customer Service Officer He Yi (@heyibinance) responded via posts regarding Binance's recent losses. CZ stated that prior analysis indicated Binance's total loss following the freezing of USDT and USDC was approximately $1 billion, accounting for roughly 0.69% of its custodial assets. He noted that the actual loss may be slightly higher than this figure, but Binance will cover it.

He Yi subsequently replied that the company's full-year revenue is sufficient to cover the losses, meaning there is currently no need to sell SpaceX shares. CZ later clarified that he did not mention selling SPCX shares, but merely listed some funding details he believed she was already aware of, advising her not to worry excessively.