Changpeng Zhao , founder of Binance , asked Elon Musk to stop mocking the exchange’s recent hack , after the billionaire posted laughing and fire emojis on X as some users compared the incident to FTX’s collapse .
Zhao responded that he respected Musk, but that it was not the time for jokes . He also pointed out that Binance invested $500 million in the Twitter acquisition and that its SpaceX-related shares are now reportedly worth more than $1 billion .
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.
Would appreciate if you show a little support. Thanks!
— CZ BNB (@cz_binance) October 30, 2026
The exchange came after Binance reported that the attack had caused estimated losses of $6.3 billion . The company said approximately $3 billion in assets had already been frozen and that it was working with authorities, Tether, and Circle to recover additional funds .
Zhao acknowledged that the final losses could exceed $1 billion after the asset freezes, but reiterated that Binance would cover all financial losses to ensure its users would not be affected.
Yi He, the exchange’s co-CEO, said the company generates enough revenue to handle the incident without selling its SpaceX investments .
Meanwhile, Brian Armstrong, CEO of Coinbase , offered assistance and confirmed that his platform was blocking transfers to compromised wallets.
Source: X
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