CZ SpaceX shares: Binance founder says he never planned to sell SPCX stake after hack

31 Oct 2026

31 Oct 2026, 17:41 UTC+01:00

Exchanges TradeReviewed News Desk

CZ and SpaceX shares are back in the headlines. On Saturday, Binance co-founder Changpeng “CZ” Zhao said on X that he never said Binance would sell its SpaceX (SPCX) shares, and that he mentioned the stake only as proof that the exchange has funds, Cointelegraph and TokenPost reported.

How the SpaceX row started

The exchange began after the record $6.3 billion Binance hack. As Decrypt reported, Elon Musk appeared to mock the exchange online, in a way that drew a parallel with FTX. CZ replied that it was a “bad time to troll” and said Binance’s SPCX shares, from its $500 million investment in Musk’s Twitter takeover, are worth more than $1 billion.

Binance co-CEO Yi He then said on X that the company’s revenue for the year is enough to cover the losses, so it does “not yet need to sell” the SpaceX shares, according to CNA. Some readers took that as a hint that a sale was on the table.

What CZ said on Saturday

In his latest post, CZ wrote that he mentioned the shares only because the FTX comparison could have implied Binance lacked funds, which he said is not true. He added that he does not make threats, called the stake small relative to SpaceX’s size and described SPCX as a stock worth holding long term. He also said he has no interest in fighting Musk and would rather “fight the North Korean hackers”, a reference to blockchain analytics firms attributing the attack to a North Korea-linked group.

Where the Binance recovery stands

Binance has said it reserved more than $6.34 billion in company funds to cover the incident and is buying back the remaining stolen tokens through market and OTC purchases. Our latest Binance recovery update covers the reported 90% replenishment, the partial SAFU deployment and the planned restart of withdrawals.

What it means for traders

• The clarification removes one overhang: on current information there is no stated plan to sell the SpaceX stake.
• The real test for Binance users is still the withdrawal restart and proof of reserves, not social media exchanges.
• Spreading funds across more than one venue limits single-exchange risk while the recovery plays out.

Weighing alternatives? See our exchange comparison, with BingX ranked first and OKX second, or read where to buy your first bitcoin.

This article is for information only and is not financial advice.

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Related reviews

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Sources

• Cointelegraph (X): CZ says he never said Binance would sell its SpaceX shares
• TokenPost: CZ Says He Never Said He Planned to Sell Binance's SPCX Shares
• Decrypt: Elon Musk, CZ Trade Blows Over SpaceX Shares After $6.4B Binance Hack
• CNA: Binance does not need to sell SpaceX shares to cover losses, co-founder says

News is for information only and is not financial advice. More crypto news