CZ ON BINANCE HACK: $6.3B IS THE BIGGEST IN USD TERMS, BUT NOT IN BTC TERMS! @cz_binance said the $6.3B Binance incident is the largest in USD value but not in $BTC terms, noting…
Original source excerpt
🚨CZ ON BINANCE HACK: $6.3B IS THE BIGGEST IN USD TERMS, BUT NOT IN BTC TERMS! @cz_binance said the $6.3B Binance incident is the largest in USD value but not in $BTC terms, noting Mt. Gox involved 6…
🚨CZ ON BINANCE HACK: $6.3B IS THE BIGGEST IN USD TERMS, BUT NOT IN BTC TERMS! @cz_binance said the $6.3B Binance incident is the largest in USD value but not in $BTC terms, noting Mt. Gox involved 650,000 $BTC. He pointed to other factors that limit market impact, including the percentage of total Bitcoin supply affected (Mt. Gox was over 5%) and the share of users and assets impacted (Mt. Gox and FTX were near 100%). He said the key difference is that platforms covering losses means there is effectively only one victim, and that Binance is protecting its users.
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