Binance’s co-founder and former CEO asked Elon Musk on Friday not to “troll” the company and instead “show some support” following the decision. EspaceX The CEO appeared to mock the struggling cryptocurrency exchange in a series of social media posts.
After learning that the world’s largest cryptocurrency exchange was hit by a $6.3 billion hack Thursday evening, Musk posted several emojis, ranging from laughing to grimacing, on X.
In response, Changpeng Zhao reminded SpaceX and Tesla CEO of Binance’s stake in Musk’s business.
Binance’s stake in SpaceX, which stems from an earlier investment in what was then Twitter, is worth more than $1 billion, Zhao said.
That’s just a tiny fraction of SpaceX’s roughly $2 trillion valuation.
“Elon, I have a lot of respect for you, but now is not the time to troll. Please stop,” Zhao wrote. “Our SPCX shares (from our $500 million investment in your Twitter buyout) are worth over a billion. I would appreciate it if you would show some support. Thanks!”
This isn’t the first time the two men have clashed online.
In November 2021, Binance suspended Dogecoin withdrawals due to a wallet issue, a move Musk called “shady.” In response, Zhao pointed to a major Tesla recall of nearly 12,000 U.S. vehicles due to software and hardware issues.
Binance froze all withdrawals and deposits after the hack, which investigators suspect was the work of North Korean state-sponsored hacking unit TraderTraitor. She has since restored the deposits.
So far, around $3 billion in cryptocurrency assets have been frozen.
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