Binance co-founder CZ tells Elon Musk to stop trolling after multibillion-dollar hack
Binance co-founder Changpeng Zhao asked Elon Musk to stop trolling the cryptocurrency exchange following a reported $6.3 billion hack, reminding him of Binance's $500 million backing for his Twitter takeover.
Binance co-founder and former chief executive Changpeng Zhao publicly urged Elon Musk to halt social media jabs following a massive security breach at the cryptocurrency exchange. Musk had posted several emojis on X, including laughing, fire, and grimacing reactions, appearing to mock the platform after reports emerged that Binance was hit by a $6.3 billion hack.[3][6][11]
In a direct reply on X, Zhao told Musk that he holds a lot of respect for him but called it a "bad time to troll" and asked him to "please stop." Zhao reminded Musk that Binance's original $500 million investment in his Twitter takeover has grown into an allocation of SpaceX (SPCX) shares currently worth more than $1 billion, adding that he would appreciate "a little support."[1][2][8][11]
Reports from outlets including Watcher.Guru and Crypto Briefing indicated Binance could potentially tap the billion-dollar SpaceX stake to help cover losses stemming from the hack. However, Binance co-founder Yi He stated that the exchange's annual revenue is sufficient to handle the financial impact, noting that the firm does not yet need to sell its SpaceX holdings.[5][9][10][12]
Key facts
- Elon Musk posted laughing, fire, and grimacing emojis on X following news of a $6.3 billion hack on Binance.
- Changpeng Zhao publicly told Musk it was a "bad time to troll," asked him to stop, and requested "a little support."
- Zhao highlighted that Binance's $500 million investment in Musk's Twitter acquisition has yielded SpaceX shares valued at over $1 billion.
- Reports circulated that Binance may use its SpaceX stake to cover losses from the breach.
- Binance co-founder Yi He said company revenue could cover the losses and that the exchange did not yet need to sell its SpaceX holdings.
Sources · 11 sources
- SO
SolanaFloor@SolanaFloorPost on X ·
JUST IN: @cz_binance calls on @elonmusk to stop trolling and show support, reminding him that @Binance invested $500M in his Twitter takeover, with its SPCX shares now worth over $1B. https://t.co/4vOfHzPTj9
Open source - WG
Watcher.Guru@WatcherGuruPost on X ·
JUST IN: Binance founder CZ tells Elon Musk to "please stop" trolling following major hack. "Show a little support." https://t.co/Q8bZ3XAiow
Open source - CN
CNBC@CNBCPost on X ·
The co-founder and former CEO of Binance asked Elon Musk not to “troll” the company on Friday and instead “show some support” after the SpaceX CEO appeared to mock the embattled cryptocurrency exchange in a series of social media posts. After learning the world’s largest crypto exchange had been hit by a $6.3 billion hack late Thursday, Musk posted several emojis, ranging from laughing to grimacing, on X. Read more on the hack: https://t.co/bVqtBqd4pm
Open source - KC
Kalshi Crypto@Kalshi_CryptoPost on X ·
JUST IN: Binance Founder CZ tells Elon Musk "bad time to troll" following major hack
Open source - WG
Watcher.Guru@WatcherGuruPost on X ·
JUST IN: CZ says Binance may use its over $1 billion stake in Elon Musk's SpaceX $SPCX to cover losses following major hack. https://t.co/3bNhqxW5Lh
Open source - DE
DecryptArticle ·
Elon Musk, CZ Trade Blows Over SpaceX Shares After $6.4B Binance Hack After Musk appeared to mock Binance’s $6.3 billion hack, CZ reminded him that the exchange’s $500 million bet on his Twitter takeover is now worth over $1 billion in SpaceX shares.
Open source - C®
CryptoSavingExpert ®@CryptoSavingExpPost on X ·
BREAKING: CZ says Binance could use its $1B stake in SpaceX to help cover losses from the $6.3B hack. This comes after Elon Musk took a swipe at CZ over the incident. Binance is certainly not short of options when it comes to covering the losses, but this is an interesting development.
Open source - CB
Crypto Banter@crypto_banterPost on X ·
🚨CZ TELLS ELON TO STOP TROLLING, POINTS TO BINANCE’S $1B+ SPCX STAKE FROM TWITTER INVESTMENT! @cz_binance replied to @elonmusk after a grimacing emoji post, writing that he has a lot of respect for him but that this is a bad time to troll and asking him to stop. He noted that Binance’s $SPCX shares from its $500 million investment in the Twitter takeover are now worth more than a billion dollars, and said he would appreciate a little support.
Open source - CR
CryptoSlate@CryptoSlatePost on X ·
Binance co-founder Changpeng Zhao asked Elon Musk to stop trolling during the exchange’s hack crisis, citing SpaceX shares he valued at over $1 billion. Yi He said revenue could cover losses and Binance did not yet need to sell them. via @akibablade https://t.co/jSyovnTwUC
Open source - CR
CryptoSlateArticle ·
CZ asks Musk to stop trolling, saying ‘our’ SpaceX shares top $1 billion CZ linked a claimed billion-dollar-plus holding to Binance’s Twitter investment; Yi He said annual revenue was sufficient to cover losses. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
Open source - CO
CoinDesk@CoinDeskPost on X ·
INSIGHT: @cz_binance asks @elonmusk to “show a little support” after he reacted to the $6.3B hack with fire and laughing emojis, reminding him @Binance’s $500M investment in his Twitter takeover is now worth over $1B. https://t.co/aMe1KPUcA8
Open source - CB
Crypto BriefingArticle ·
Binance may use $1B SpaceX-linked stake to cover hack losses, CZ says Binance's strategy to cover hack losses without user impact highlights the challenges of asset liquidity and regulatory scrutiny in crypto finance. The post Binance may use $1B SpaceX-linked stake to cover hack losses, CZ says appeared first on Crypto Briefing .
Open source