Binance co-founder He Yi responds to “self-dealing” accusations: solvency-related data are publicly available
Binance co-founder and co-CEO He Yi (何一) posted on X on October 31, 2026, responding to claims in the community that the recent security incident should be directly attributed to “self-dealing.” She said that investment is often a matter of judgment, a contest of logic, and the ability to sift through clues and extract valid information. She said she could understand some friends’ concerns about solvency, because they were unaware that data such as trading volume, fees, user scale, and Binance Coin’s quarterly burn are publicly available.
The post was a reply to a community discussion post. Binance had previously announced that a security incident affected about $6.3 billion in assets, and the company is pushing ahead with freezing and recovery efforts while saying it will cover the related losses with its own funds and the SAFU fund, and that user funds are safe. Some voices in the community characterized the incident as an internal problem, and He Yi’s response pointed to public data as the basis for judgment.
Original source:
Title: He Yi reply post on X platform
Publisher: Yi He (@heyibinance)
Publication date: 2026-10-31
URL: https://x.com/heyibinance/status/2116393898268667942
Source nature: Original post by the person involved
Verification status: Full text of the original post and its context were read in this instance (a reply to a community discussion post about “self-dealing”), verification date 2026-10-31
Supporting content: He Yi’s statements about investment judgment ability, understanding solvency concerns, and the public availability of trading volume, fees, user scale, and Binance Coin’s quarterly burn data.Related background comes from Binance’s official updates and earlier confirmed security incident notices (affecting about $6.3 billion in assets, promising to cover losses, etc.).
ABAB AI Insight
He Yi has been involved in Binance operations and user-facing matters since the company’s early days, and in recent years has served as co-CEO and overseen customer service-related work. In multiple previous security or controversial incidents, she has often responded directly to community questions in public posts, and this time she likewise addressed the attribution of “self-dealing” rather than discussing technical details. Binance’s trading volume, fee income, user scale, and other indicators have long been disclosed externally through quarterly reports, the official website, and third-party data platforms; the BNB quarterly burn mechanism was also launched around 2019 and has continued to be made public, aiming to reduce circulating supply by using part of fee revenue.
This response links solvency concerns to public data, intending to suggest that the community can judge the platform’s operating scale and revenue capacity based on disclosed information, rather than relying only on the incident narrative itself. Compared with the discussion after the FTX incident about proof of reserves and liability transparency, Binance’s approach has been to continuously emphasize the verifiability of trading data and burn records, while also promising to cover losses with its own funds and SAFU in security incidents. Public data can verify trading activity and some fee income, but it cannot directly correspond to the immediate solvency arrangement after hot-wallet theft or internal permission-control conditions.
For the community, He Yi’s wording directs “judgment ability” toward extracting and logically reasoning from public information, rather than accepting or denying specific allegations. After the incident, Binance still needs to complete technical postmortems, proof-of-reserves updates, and withdrawal resumption, and these developments are more likely than a single response to affect the practical assessment of solvency and security capability. One observation point is the subsequently published official full incident report and proof-of-reserves data, and how they correspond to the public trading and burn indicators mentioned this time.
ABAB News · Laws of cognition
Public data can verify scale, but it does not directly prove whether a specific incident is internal or external in nature.
Redirecting solvency concerns to verifiable indicators is a way of substituting information gathering for a direct response to accusations.
Trading volume and burn records reflect operating activity, while the settlement of a security incident still depends on fund coverage and recovery arrangements.