Yi He: Binance’s annual revenue is enough to cover the hacking losses, no need to sell SpaceX shares
On October 30, 2026, Binance co-founder Yi He posted on the X platform that the company’s annual revenue is enough to cover the losses caused by this hacking incident, so there is currently no need to sell the SpaceX shares it holds. In the post, she reported to the “major shareholder” that annual revenue is sufficient to cover the losses, and that there is temporarily no need to sell the SpaceX shares that the other party favored.
Previously, CZ estimated that the total losses from the attack exceeded $6 billion, of which about $3 billion in assets had been frozen, the SAFU fund was worth more than about $1 billion, and the remaining gap was about $2 billion. CZ also mentioned that Binance’s SPXC shares were worth more than $1 billion and could cover most of the gap. CZ later clarified that he was not suggesting selling those shares; he was only listing some funding conditions.
Binance had previously said it would use the SAFU fund and company funds to cover all losses, and said that user funds were safe.
Original sources:
Title: Yi He X post Publisher: Yi He (@heyibinance) Publication date: 2026-10-30 URL: https://x.com/heyibinance/status/2116098298138468651（及相关回复链） Nature of source: original post by the person concerned Verification status: This time, the post content was cross-verified through multiple English-language reports, verification date 2026-10-30 Supporting content: annual revenue is enough to cover the losses; no need to sell SpaceX shares
Title: CZ and He Yi Respond to Binance Losses: Annual Revenue Sufficient to Cover, Will Not Sell SpaceX Shares for Now Publisher: TechFlow Publication date: 2026-10-30 URL: https://www.techflowpost.com/en-US/newsletter/142097 Nature of source: English media report Verification status: actually read this time, verification date 2026-10-30 Supporting content: Yi He replied that annual revenue can cover the losses; CZ clarified that he did not suggest selling the shares
Title: Yi He Says Binance Revenue Can Cover Losses Without Selling SpaceX Shares Publisher: TokenPost Publication date: 2026-10-30 URL: https://www.tokenpost.com/news/business/44504 Nature of source: English media report Verification status: actually read this time, verification date 2026-10-30 Supporting content: Yi He said annual revenue is enough to absorb the losses, with no need to sell SpaceX holdings
ABAB AI Insight
The total impact of Binance’s hacking incident was about $6.3 billion, with about $3 billion frozen, the SAFU fund at about $1 billion, and the remaining gap at about $2 billion. Yi He’s framing that annual revenue can cover the losses positions the funding gap as something to be absorbed operationally rather than through a capital disposal. CZ previously mentioned that SPXC holdings (stemming from a $500 million investment in Musk’s acquisition of Twitter, now valued at over $1 billion) could cover most of the gap, but later made clear that he had not suggested selling them.
This communication sequence shifted the coverage source from “possibly using illiquid assets” to “prioritizing current-year revenue.” As a privately traded market asset, SpaceX shares have limited liquidity, so selling them is not an immediate option. Yi He’s statement shifted shareholder attention from asset monetization to revenue coverage capacity.
For Binance, this wording reinforces the commitment that “user funds are safe and the losses will be borne by the company,” while avoiding directly linking a specific investment asset to short-term solvency. The key indicators will be whether the company later discloses the specific correspondence between revenue scale and the loss coverage gap, as well as the actual proportions used from the SAFU fund and company funds.
ABAB News · Cognitive Law
After a major loss, an exchange’s wording that current-year revenue will cover the gap can reduce market expectations for liquidating illiquid holdings.
After a founder mentions an asset that can cover the losses, the co-founder’s clarification can redefine “possible sale” as “only listing funding conditions.”
The three-layer coverage structure of frozen assets, the SAFU fund, and annual revenue frames the remaining gap as manageable rather than requiring immediate disposal of core holdings.