UPDATE: Binance Covers Estimated $6.3B Exploit Entirely From Corporate Balance Sheet
UPDATE: Binance covered its estimated $6.3 billion exploit entirely from its own corporate balance sheet, according to CZ. The platform did not borrow money, sell assets or raise capital to offset the incident. It allocated 100% of the required funds; 95% of user losses have already been resolved, and the remaining 5% is being converted into smaller tokens. CZ flagged a detail that has drawn little attention: Binance did not borrow, sell assets or raise capital, and instead absorbed the loss through its balance sheet. That sets the case apart from other incidents to which observers have compared it. Link:
