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Binance cofounder tells Musk to cut the trolling after $6.3 billion breach

Andre Savage
Published Oct 30, 2026
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Summary:
  • Changpeng Zhao asked Elon Musk to stop mocking Binance and to "show some support" after a string of posts on X.
  • Musk reacted with laughing to grimacing emojis after hearing the world's largest crypto exchange suffered a $6.3 billion hack late Thursday.
  • Binance halted withdrawals and deposits; investigators suspect the TraderTraitor group, a North Korean state-backed unit. Deposits are back, and about $3 billion in crypto remains frozen.

What happened on X

On Friday, Binance cofounder Changpeng Zhao urged Elon Musk to stop trolling and back the company after the SpaceX chief posted a run of emojis reacting to news of a $6.3 billion breach late Thursday.

The stake and the history

Zhao also reminded Musk that Binance holds equity tied to his ventures, pointing to a SpaceX stake that comes from Binance's earlier investment in what was then Twitter. He said those SPCX shares are worth more than $1 billion, which sits in the shadow of SpaceX's roughly $2 trillion valuation. As Zhao put it: "Our SPCX shares (from our $500m investment in your Twitter takeover) are worth more than a billion."

The pair have clashed online before. In November 2021, Binance paused Dogecoin withdrawals due to a wallet glitch, which Musk called "shady." Zhao countered by pointing to a Tesla recall in the U.S. involving almost 12,000 vehicles that was linked to software glitches and hardware issues.

Market disruptions are reminders that having better tools can make investors more confident. We're hosting our first ever investor livestream on 11/17 to show you how to use ChatGPT and Claude to invest like a pro, hosted by Briefs Finance CEO Jaspreet Singh. Save your seat.

The security fallout and why it matters

After the hack, Binance froze all withdrawals and deposits. Deposits have been turned back on, and approximately $3 billion in cryptocurrency assets remain frozen to date.

In plain English: disruptions like this can hit liquidity and sentiment. If your portfolio touches Binance-linked tokens or businesses, watch how fast core functions come back online and whether clawbacks change recovery math.

Learning to combine human judgment with smarter technology gives investors a lasting edge. On 11/17, our CEO Jaspreet Singh goes live for our first ever investor livestream on how to use ChatGPT and Claude to invest like a pro. Register to join him.

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