Changpeng Zhao publicly asked Elon Musk to stop joking about the Binance hack after several emoji-laden reactions on X and a comparison with FTX. The Binance founder pointed out that the platform invested $500 million in Twitter’s buyout and estimated that the investment is now worth more than $1 billion. According to CZ, Binance still needs to cover around $2 billion following asset freezes and the use of the SAFU fund, while co-CEO Yi He said the company’s annual revenue can absorb the losses. Tether and Circle quickly froze the relevant assets, but CZ acknowledged that users now expect concrete guarantees concerning their funds.
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