A message from Binance Co-CEO Richard Teng.
A recap of the key points from his message and the full transcript are below in the comments!
Thank you all for your patience and for standing by us over the past few days. Here’s a brief and frank summary of the current situation:
• User assets are safe. We never use user funds. The funds affected in this incident were in Binance’s own hot wallet, not your assets.
• Binance is committed to covering all losses with company funds. We have set aside more than $6.34 billion, including $5 billion already held in the affected token types (USDC, USDT, BTC, ETH, BNB...). The rest is being purchased through market and OTC channels.$AAPLB $NVDAB $MSFTB #BinanceSAFUFundTransferCompleted7499BTC #CZDismissesClaimsBinanceHackWasPredicted #BinanceToResumePhaseOneOfWithdrawals #BinanceUpdatesProofofReservesAddresses #TheoDõiFOMC
A recap of the key points from his message and the full transcript are below in the comments!
Thank you all for your patience and for standing by us over the past few days. Here’s a brief and frank summary of the current situation:
• User assets are safe. We never use user funds. The funds affected in this incident were in Binance’s own hot wallet, not your assets.
• Binance is committed to covering all losses with company funds. We have set aside more than $6.34 billion, including $5 billion already held in the affected token types (USDC, USDT, BTC, ETH, BNB...). The rest is being purchased through market and OTC channels.$AAPLB $NVDAB $MSFTB #BinanceSAFUFundTransferCompleted7499BTC #CZDismissesClaimsBinanceHackWasPredicted #BinanceToResumePhaseOneOfWithdrawals #BinanceUpdatesProofofReservesAddresses #TheoDõiFOMC
