Binance reserves over $6.34B in company funds to cover hack losses; CZ says it may use its $1B SPCX stake

Binance confirmed it will cover all losses from the hack, reserving over $6.34 billion in company funds. $5 billion is already held in the affected tokens, with the rest bought via market and OTC channels; $3 billion in assets remains frozen. Founder CZ said losses may exceed $1 billion and warned Binance could use its $1 billion SPCX stake to cover them. User funds are safe.

Detected & updated continuously · Source: Nebula