Key Takeaways
- Elon Musk’s jokes about Binance’s reported hack prompted CZ to publicly ask him to stop trolling.
- CZ says Binance’s $500 million Twitter investment is now tied to SpaceX shares worth over $1 billion.
- Yi He says Binance can cover its losses without selling its SpaceX-linked holdings.
Musk’s Jokes Draw a Billion-Dollar Response
Binance’s reported $6.3 billion security breach on Oct. 29, 2026, has produced an unexpected confrontation between two billionaires, with Elon Musk’s online commentary drawing a pointed response from Binance co-founder and former CEO Changpeng Zhao, better known as CZ.
SpaceX boss Elon Musk entered the conversation with his characteristically economical commentary. Responding to reports of the suspected theft, he wrote, “Everyday is Zeroday,” a reference to security vulnerabilities exploited before defenders can address them.
He also replied to an earlier CZ warning about malicious email attachments with two emojis, “🔥😂,” drawing attention to the irony of an exchange suffering a security incident shortly after its founder cautioned against compromised devices. CZ wasn’t laughing. Zhao stated:
“Elon, have a lot of respect for you, but bad time to troll. Please stop.”
CZ Points to Binance’s SpaceX-Linked Investment
Then came the financial reminder. “Our SPCX shares (from our $500m investment in your Twitter takeover) are worth more than a billion,” Zhao continued. “Would appreciate if you show a little support. Thanks!”
The statement connected Binance’s current financial predicament to its participation in Musk’s $44 billion Twitter acquisition in 2022, when the exchange committed $500 million to the transaction. Musk’s xAI company later acquired X, and then the AI company was merged into SpaceX, which went public earlier this year.
Zhao’s reference to SPCX shares suggests that Binance’s investment exposure has now grown substantially in value amid the moves, although the precise ownership structure and valuation haven’t been independently established. The timing was particularly striking. Binance faces potentially billions in losses, yet its founder was publicly pointing to an investment associated with the very billionaire making jokes about the incident.
The SpaceX-linked position, at Zhao’s stated valuation, would be worth more than twice Binance’s original $500 million commitment.
Yi He Says Binance Can Cover Losses Without Selling
Binance co-founder Yi He subsequently joined the conversation, delivering a dry financial update that doubled as a response to the public spectacle. “Reporting to the major shareholder: Our company’s revenue for the year is sufficient to cover the losses, so we do not yet need to sell the SpaceX shares you are bullish on,” she wrote.
Her statement suggested Binance could absorb the financial damage through its business operations without liquidating the Musk-linked investment. Separately, CZ acknowledged that losses might exceed estimates circulating online, while assuring followers that Binance would cover them.
The exchange has also discussed using frozen assets, its Secure Asset Fund for Users (SAFU) and corporate resources to address the incident. Final losses remain uncertain as investigators trace the stolen funds. For now, the curious contradiction is hard to miss: Binance’s founder is asking Musk for sympathy while reminding him that the exchange holds more than $1 billion in assets linked to his business empire.
