CZ and He Yi Respond to Binance Losses: Annual Revenue Sufficient to Cover, No Sale of SpaceX Shares for Now

According to TechFlow, on October 30, Binance co-founder CZ (@cz_binance) and co-founder and Chief Customer Service Officer He Yi (@heyibinance) posted responses to Binance's recent losses. CZ said earlier analyses estimated Binance's total losses after USDT and USDC were frozen at about $1 billion, or roughly 0.69% of its custodial assets. He noted that actual losses may be slightly higher than that figure, but Binance will absorb them.

He Yi replied that the company's full-year revenue is sufficient to cover the losses, so there is no need to sell SpaceX shares for now. CZ later added that he did not mention selling SPCX shares, but merely listed some funding situations he might be aware of.

Source: TechFlow