CZ: Binance Covered $6.3B Hack Solely From Balance Sheet, No Loans, No Asset Sales, No Fundraising

Binance founder Changpeng Zhao (CZ) stated on X on November 2 that the exchange absorbed the $6.3B hack entirely from its own balance sheet, with no borrowing, no asset sales, and no fundraising. The clarification addresses how Binance covered the losses internally, a scale of loss comparable to major exchange failures that previously required external bailouts or customer haircuts. The claim matters for counterparty confidence, as it signals Binance's balance sheet could withstand a multi-billion-dollar shock without tapping reserves or markets. CZ did not disclose which assets were liquidated or how the funds were deployed, and the article provides no independent verification of the balance-sheet claim. Watch for proof-of-reserves updates, any regulatory commentary, and whether on-chain flows corroborate the internal coverage of the $6.3B loss.