#BackedNotBroken:RichardTengSaysUsersBearNoLoss
The market held its breath, but Binance showed strength. Following the impact of the 6.3-billion-dollar hack, the exchange announced that it had already replaced 90 percent of the stolen assets.
Richard Teng got straight to the point. The company set aside more than 6.34 billion dollars, combining its own funds, the Futures Insurance Fund, and SAFU. The promise is clear: users won’t have to foot the bill.
The remaining 10 percent consists of tokens with low liquidity, which means it will take longer to acquire them on the market. To prove its reserves are well-funded, the platform published a new Proof of Reserves snapshot.
The big question now is whether you trust them. Is a record-breaking, transparent recovery enough for you to trade with confidence again, or has the exchange’s reputation taken a hit that’s hard to repair? Share your opinion.
$ESPORTS
$NEAR
$STX
#Binance #RichardTeng #CryptoSecurity
The market held its breath, but Binance showed strength. Following the impact of the 6.3-billion-dollar hack, the exchange announced that it had already replaced 90 percent of the stolen assets.
Richard Teng got straight to the point. The company set aside more than 6.34 billion dollars, combining its own funds, the Futures Insurance Fund, and SAFU. The promise is clear: users won’t have to foot the bill.
The remaining 10 percent consists of tokens with low liquidity, which means it will take longer to acquire them on the market. To prove its reserves are well-funded, the platform published a new Proof of Reserves snapshot.
The big question now is whether you trust them. Is a record-breaking, transparent recovery enough for you to trade with confidence again, or has the exchange’s reputation taken a hit that’s hard to repair? Share your opinion.
$ESPORTS
$NEAR
$STX
#Binance #RichardTeng #CryptoSecurity
