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Other● Neutral

Musk and CZ Clash Over Binance's SpaceX Stake After Exchange Hack

TradingGain NewsroomTradingGain Newsroom··30 Oct 2026, 16:25 UTC

Elon Musk seemed to make fun of Binance's hack, and Changpeng Zhao (CZ) responded by pointing to Binance's earlier investment in Musk's Twitter deal. He said that stake is now worth over $1 billion in SpaceX shares. The spat puts Binance's security record and its ties to Musk back in the spotlight for traders.

Why it matters

  • Binance was hit by a major hack, which is a reminder of exchange security risks.
  • Binance's earlier $500 million bet on Musk's Twitter takeover is now reported to be worth over $1 billion.
  • The gain comes from SpaceX shares, so the value of that stake depends on SpaceX.

What to watch next

Watch for any official statement from Binance on the hack's impact on user funds and on its SpaceX holdings.

This brief is written by TradingGain from public reporting by Decrypt.Read original ↗
Musk and CZ Clash Over Binance's SpaceX Stake After Exchange Hack
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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.