‘Bad time to troll’: Binance founder reminds Elon Musk of $500m Twitter support

Binance co-founder Changpeng Zhao has lashed out at Elon Musk for mocking the cryptocurrency exchange following a massive $6.3 billion hack. Zhao reminded Musk of the company's $500 million investment in Musk's Twitter takeover, now known as X. The exchange took place on X on Friday, October 30, in response to Musk's sarcastic remarks about the attack.

Zhao urged Musk to stop trolling, citing the substantial financial backing Binance had provided for the Twitter acquisition. He noted that Binance's shares, stemming from the $500 million investment, were now valued at over $1 billion. The security breach involved the theft of $6.3 billion in just over 20 minutes, with about $3 billion in stolen assets frozen by Binance.

Zhao stated that Binance's revenue for the year would be sufficient to cover the losses, and the company would not need to sell its SpaceX shares.