Changpeng Zhao, co-founder of Binance, asks Elon Musk to "respect" Binance, stating that he should not "mock" after Bitcoin was stolen
CNBC
1h ago
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Changpeng Zhao, co-founder of Binance and former CEO, asked Elon Musk on Friday not to "mock" Binance, but rather to "express some support." Previously, after learning that the world's largest cryptocurrency exchange had suffered a $6.3 billion hacker attack, Musk posted a series of emoji responses on X. Zhao also mentioned that Binance holds equity in Musk's related businesses worth over $1 billion.
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Co-founder of Binance and former CEO Zhao Changpeng asked Elon Musk on Friday not to “mock” the company, but rather to “show some support.” Previously, this SpaceX CEO seemed to be mocking this troubled cryptocurrency exchange in a series of social media posts.

After learning that the world's largest cryptocurrency exchange suffered a $6.3 billion hacker attack later on Thursday, Musk posted a series of emojis on X, ranging from big laughs to frowning faces.

In response, Zhao Changpeng reminded this SpaceX and Tesla's CEO that Binance holds equity in Musk's businesses.

Zhao Changpeng said that the SpaceX shares held by Binance come from an investment made earlier in a platform that was then still named Twitter, with a value of over $1 billion.

This represents only a small portion of the valuation of approximately $2 trillion for SpaceX.

Zhao Changpeng wrote: 'Elon, I respect you very much, but now is not the time for mockery. Please stop. The SPCX shares we hold (which came from the $500 million we invested in your acquisition of Twitter) are worth over $1 billion. We would be very grateful if you could show us some support. Thank you!'

This is not the first time the two have engaged online.

In November 2021, Binance suspended Dogecoin withdrawals due to a wallet malfunction, and Elon Musk described this move as "suspicious." In response, Zhao Changpeng mentioned that Tesla recalled nearly 12,000 vehicles in the United States due to software and hardware issues.

After the hacker attack, Binance froze all withdrawals and deposits. Investigators suspect that this incident was carried out by the North Korean-backed hacker group TraderTraitor. Since then, Binance has resumed the deposit function.

Currently, approximately $3 billion in crypto assets have been frozen.

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