Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Binance founder Changpeng Zhao on Friday told Elon Musk to stop trolling after Musk reacted with laughing emojis to concerns Binance’s hack losses could mirror FTX’s 2022 collapse.
Why CZ Pushed Back at Musk
Musk posted “Everyday is Zeroday” as news of the hack broke, then dropped fire and laughing emojis under a warning from Zhao about clicking suspicious email links.
Zhao responded directly on X: “Elon, have a lot of respect for you, but bad time to troll. Please stop. Our SPCX shares (from our $500m investment in your Twitter takeover) are worth more than a billion. Would appreciate if you show a little support. Thanks!”
Don’t Miss:
The tension escalated after another user posted an old quote from Sam Bankman-Fried claiming FTX could cover all client holdings just days before the exchange collapsed in 2022.
Zhao hasn’t said Binance will sell its SpaceX shares, and co-CEO Yi He confirmed the company doesn’t need to, citing enough annual revenue to cover the losses on its own.
What Zhao Has Actually Confirmed About Losses
Analyst 0xngmi estimated losses around $1 billion after stablecoin freezes, comparing that figure against Binance’s claimed $144 billion in assets under custody and arguing the company could easily absorb it from its balance sheet.
Zhao replied: “Loss might be a bit higher than that, but will cover.” That response didn’t confirm the $1 billion estimate specifically, leaving the final loss figure still unresolved.
Binance said on X that the estimated total impact reaches roughly $6.3 billion, more than four times the losses from the 2025 Bybit hack, which previously held the record for the largest crypto theft.
The company said around $3 billion in assets have already been frozen, and it’s coordinating with law enforcement, Tether, Circle and industry partners to trace and freeze additional funds.
Binance confirmed it will “cover all losses” so users don’t bear any financial impact.
See Also: Avoid the #1 Investing Mistake: How Your ‘Safe’ Holdings Could Be Costing You Big Time
Why Francois Says This Won’t Trigger Contagion
The FTX comparison raises legitimate questions about whether Binance can substantiate its promises, though it provides no direct evidence Binance faces the same underlying financial problems that sank FTX.
Widely-followed crypto trader Quinten Francois posted on X that the market is only down 2% to 3% despite the biggest crypto hack in history because there’s no domino effect at play.
Unlike FTX, he argued, this won’t trigger a chain reaction of bankruptcies and losses across the industry, since the money was stolen from the player with the deepest pockets in the industry.
Meanwhile, Coinbase CEO Brian Armstrong separately offered support on X, saying his team is blocking sends to compromised wallets and has reached out to Binance directly.
“Moments like this call for the industry to work together,” Armstrong said.
Image: Shutterstock
Read Next:
Building Wealth Across More Than Just the Market
Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.
EquityMultiple
For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process.
Arrived
Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.
American PowerGen
As artificial intelligence drives a surge in electricity demand, reliable power generation is becoming a critical part of the technology ecosystem. American PowerGen is developing natural gas-fired power plants in Texas, a fast-growing market fueled by AI data centers, manufacturing expansion, and population growth. By advancing projects through permitting, fuel supply, and grid interconnection, the company is positioning itself to help meet rising energy needs while offering investors exposure to the infrastructure supporting the next wave of AI and industrial growth.
Bito
As AI coding tools take on more of the work traditionally done by developers, companies are facing new challenges around code quality, context and the rising cost of AI-powered development. Bito is building software designed to help AI coding agents better understand complex codebases while helping companies control AI development costs. Founded by former PubMatic executives, Bito has raised more than $10 million from institutional and individual investors and is now raising additional capital through a Wefunder offering, giving investors an opportunity to invest in a company targeting an emerging need within the rapidly expanding AI software market.
FarmTogether
Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.
Fundrise
Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
