“I Never Said Selling,” CZ Clears Up SpaceX Shares Controversy with Elon Musk
Highlights
- Binance co-founder Changpeng “CZ” Zhao denied any intention to fight Elon Musk.
- CZ clarifies he never threatened to sell SpaceX shares and claims it is one of the best stocks to hold.
- CZ wanted Musk to stop trolling and comparing Binance hack with beleaguered crypto exchange FTX.
Binance co-founder Changpeng “CZ” Zhao has clarified on Saturday that he never threatened to sell SpaceX shares or pressure Elon Musk. CZ claimed he only mentioned Binance’s stake to counter comparisons with beleaguered crypto exchange FTX after the hack.
In a post on X on October 31, CZ said: “I never said selling SPCX shares. I mentioned we have them only because the FTX comparison in the thread may have implied we lacked funds, which is not true.”
He added, “I don’t make threats,” calling it one of his core principles that he has also written about in his book. CZ described Binance’s holdings as “a drop in the ocean” relative to SpaceX’s scale. He added that SPCX is one of the best stocks to hold for the long-term.
In addition, Binance founder called Elon Musk “one of the strongest builders in the world,” denying his intention to fight with him. “Let’s fight the North Korean hackers,” he said.
Fight with one of the strongest builders in the world? No thx.
Let's fight the North Korean hackers.
— CZ 🔶 BNB (@cz_binance) October 31, 2026
The controversy began after Binance got hacked for $6.3 billion. This is one of the biggest crypto heists that shook not only crypto but traditional markets. Elon Musk posted “Everyday is Zeroday” and replied with laughing emojis related to the crypto hack. The post referenced past FTX claims that client funds were fully covered.
CZ responded, “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!”
He later outlined rough math on the remaining funding gap after frozen assets and Binance’s Secure Asset Fund for Users (SAFU), noting the SPCX stake as one available non-crypto asset.
Binance co-CEO Yi He addressed the discussion earlier, claiming the company’s annual revenue is sufficient to cover the losses. “So we do not yet need to sell the SpaceX shares,” she said.
Also Read: Crypto Hack Tracker Chainalysis Confirms It Was Hit by Agentic AI-Driven Cyberattack
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