CZ Responds to SPCX Holdings Controversy: Never Said He Would Sell, Still Bullish on Long-Term Value

According to TechFlow, on October 31, CZ responded on X to discussions about SPCX stock, clarifying that he never said he would sell his holdings and stating that SPCX will remain a high-quality asset worth holding long-term for a long time to come.

CZ explained that he previously mentioned SPCX holdings because a post compared Binance with FTX, which could have led outsiders to mistakenly believe Binance lacked funds. What he actually wanted to convey was that, in addition to crypto assets, Binance also holds other types of assets.

CZ also said that the scale of the relevant assets held by Binance is merely a drop in the ocean to the other party and cannot pose a threat. He urged the public not to describe the matter as a confrontation and said there is no need to deliberately create divisions.

Previously, CZ replied to a post in which Musk commented on the Binance hack, saying he deeply respects Musk but believed it was not an appropriate time for jokes. He also mentioned that the SPCX stock held by Binance originated from a previous $500 million investment in Musk's acquisition of Twitter, which is now worth more than $1 billion, and hoped Musk could provide some support.

Source: TechFlow