Update
Binance’s SpaceX Stake Offset Massive Crypto Hack Shortfall
Binance co-founder Changpeng ‘CZ’ Zhao highlighted the value of the exchange’s investment in Elon Musk’s business empire, particularly the $1 billion stake in SpaceX. Despite a security breach costing $6.3 billion, Binance’s original investment in SpaceX is now worth over $1 billion. Binance stated that its secret security passwords were not compromised and that about $3 billion of the affected assets have been frozen on-chain. The exchange plans to cover all losses using its Secure Asset Fund for Users (SAFU) and company funds.