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CZ Riled by Musk's Mockery... Mentions '$1 Billion in SpaceX Shares,' Then Clarifies 'Not Selling'

The online dispute between Elon Musk and Changpeng Zhao (CZ), triggered by a major hacking incident at Binance, has entered a new phase. After expressing discomfort with Musk's response, CZ mentioned SpaceX-related shares worth more than $1 billion, and then issued an additional clarification statin

Wooil Shim
Staff Reporter
6 min read
CZ Riled by Musk's Mockery... Mentions '$1 Billion in SpaceX Shares,' Then Clarifies 'Not Selling'
CBC News

The online dispute between Elon Musk and Changpeng Zhao (CZ), triggered by a major hacking incident at Binance, has entered a new phase. After expressing discomfort with Musk's response, CZ mentioned SpaceX-related shares worth more than $1 billion, and then issued an additional clarification stating that he had no intention of selling those shares.

■ War of Nerves That Began with a $6 Billion Hack

The starting point of this dispute was a hacking incident at Binance involving roughly $6 billion. Bloomberg reported that Binance founder CZ, while dealing with the fallout of the hack, faced another problem: a mocking response from Elon Musk.

While expressing respect for Musk, CZ stated that continuing negative reactions amid a security incident was inappropriate.

■ "We Invested $500 Million in the Twitter Acquisition... We Hold Over $1 Billion in SpaceX Shares"

In particular, CZ referenced the fact that Binance invested $500 million in Musk's acquisition of Twitter. He then claimed that, in connection with that investment, he currently holds SpaceX-related shares worth more than $1 billion. He went on to ask Musk to send encouragement rather than criticism. What began as a dispute over online reactions to the hacking incident has now expanded to include their past investment relationship.

■ "I Never Said I Would Sell"... CZ Offers Further Clarification

However, CZ later explained in a separate reply that his remarks did not mean he would sell the shares. Along with a laughing emoji, he indicated that he never said he would sell SpaceX shares, and that he had merely mentioned funds and investment relationships that Musk would be aware of. He added that this explanation was intended to ease Musk's concerns. In other words, the share value of over $1 billion he previously mentioned does not signify an actual plan to sell or a policy to recover the invested funds.

■ Unverified Details

The investment amount CZ publicly mentioned was $500 million, and the current value of the related shares he claimed is more than $1 billion. However, the specific ownership structure of the assets, valuation criteria, and whether they can actually be disposed of cannot be confirmed from these remarks alone.

The dispute between Musk and CZ has drawn attention given that it unfolded against the backdrop of a serious security incident at Binance. The sequence of events — CZ publicly asking Musk to exercise restraint, then referencing their past investment relationship, and then clarifying he had no intention of selling — followed one after another. However, it has not been confirmed how Musk responded after CZ's additional explanation.

Separately from the two men's online statements, the exact scale of damages from the Binance security incident and the recovery status should be verified through official investigation results.

[This article was written based on public statements and media reports, and distinguishes between the parties' claims and verified facts. This article was written with some assistance from AI.]

Wooil Shim
Staff Reporter

CBC Globe publishes verified stories with editorial review, source checks, and tenant-specific publication standards.