Binance updated its security incident investigation progress, expecting withdrawals to resume within 45 hours.

CZ stated that the Binance attack resulted in losses exceeding $6 billion, with $3 billion in assets frozen, the SAFU fund totaling approximately $1 billion, and a remaining shortfall of about $2 billion. CZ also claimed that Binance's SPCX stock holdings were worth over $1 billion. He Yi stated that Binance's annual revenue is sufficient to cover the losses, and there is no immediate need to sell its SpaceX shares. 0xngmi estimated the losses at approximately $1 billion, to which CZ responded that the actual losses were slightly higher, and Binance will bear all the losses.

CZ indicated that Binance may use its more than $1 billion stake in SpaceX to offset losses from the major hack. (Watcher.Guru)

[CZ and He Yi Respond to Binance Losses: Company's Annual Revenue Sufficient to Cover Them] Binance co-founder CZ stated that the freezing of USDT and USDC resulted in a loss of approximately $1 billion for Binance, representing about 0.69% of its custodied assets, which Binance will absorb. He Yi stated that Binance's annual revenue is sufficient to cover the losses, eliminating the need to sell its SpaceX shares. CZ further clarified that he did not mention selling SpaceX shares, but only outlined the financial situation to alleviate He Yi's concerns.

CZ stated that the Binance hack left a gap of approximately $2 billion, of which $300 million has been frozen and includes the SAFU fund. CZ also pointed out that Binance's $500 million investment in the Twitter acquisition is now worth over $1 billion.

[CZ: Binance's stolen funds have a shortfall of approximately $2 billion, still manageable] CZ stated that Binance suffered a hack that resulted in the theft of approximately $6 billion, of which about $3 billion has been frozen, and about $1 billion is in the SAFU fund, leaving a shortfall of approximately $2 billion. CZ said that SPCX holdings alone are worth $1 billion, and the remaining shortfall is still manageable.