A Binance co-founder said the platform may use its stake of more than $1 billion in Elon Musk-owned SpaceX to cover losses following a major hack. $SPCX

He noted that the stake could be among the financial options available to address the fallout from the incident, without disclosing further details about the scale of the losses or the nature of the hack.

The market is watching to see whether Binance will proceed with selling part of its stake or use it to cover the losses, and what that could mean for its financial position.

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