Elon, have a lot of respect for you, but bad time to troll. Please stop. Our SPCX shares (from our $500m investment in your Twitter takeover) are worth more than a billion.
My work is laughable especially when clients’ funds are at stake 😬
Highlighting the strength of his financial position, Zhao, who is worth over $100 billion, replied to Musk that a stake Binance holds in SpaceX is valued at over $1 billion. Binance invested $500 million in X, then Twitter, back in 2022 as part of Musk’s takeover of the company, which was acquired by SpaceX earlier this year. Zhao is Binance’s biggest shareholder.
More context on How Binance Is Racing to Cover Losses in the Biggest Heist in Crypto History, WSJ
From Coffeezilla’s coverage of the recent hack, where centralized issuers like Tether (USDT) and Circle (USDC), the heroes, froze millions in stolen funds. This becomes a glaring reminder of crypto’s core dilemma: built to as a decentralized escape from tradfi, yet forced to adopt the good old safeguards of banking as regulations tighten and NK exploiters get bolder.