awhks

Binance was just hacked, and Musk and CZ ended up chatting about their financials in the comments 😂

Musk first posted, “Everyday is Zeroday,” then followed up with a grinning emoji.

CZ couldn’t sit still and replied directly:

“Elon, I have a lot of respect for you, but this really isn’t the time to joke around.”

Then he changed the subject, bringing up the $500 million Binance invested back when Musk acquired Twitter, along with the $SPCX shares now worth more than $1 billion, and hinting that he hoped Musk would show some support.

Even more amusing was Yi He’s reply:

“Just reporting to our major shareholder: our revenue this year is enough to cover this loss, so for now, we don’t need to sell the SpaceX shares you’re so bullish on.”

CZ quickly clarified: “Who said anything about selling? I was just showing him that we still have some assets he’s familiar with, so he wouldn’t worry so much 😂”

I really couldn’t keep it together when I saw this.

Musk was clearly making fun of Binance, but CZ responded by bringing up their investment ties, and Yi He took the opportunity to show off the company’s financial strength.

In just a few exchanges, they somehow turned a major security incident into some casual banter between shareholders.

Of course, jokes aside, putting $6.3 billion in assets at risk is no small matter.

But judging by this exchange, CZ and Yi He at least wanted to send one message:

Binance took a serious hit this time, but it still has plenty of resources. It’s nowhere near having to sell its SpaceX shares to stay afloat.

If we compare crypto with the stock market right now, the reaction from crypto isn’t actually that bad, considering how much negative news we’ve had lately.

Look at how the stock market is bleeding, the earnings we’ve seen from Google, Intel, and others, and how AI stocks are selling off.

On top of that, the world’s largest crypto exchange has been hacked.

Considering all of this, crypto is actually holding up relatively well.

I think the most important thing right now is to observe how the market handles all this negative news. Do we continue to see weakness, or does the market start showing strength despite everything that’s going on?

At this point, this is far more important than buying the dip.

If the market can show strength despite all these negative catalysts, buying that strength is a much better approach than blindly buying just because the price looks cheap.

There will always be countless reasons to buy if the market starts showing strength when there’s so much going on in the world and across the crypto space.

But for now, I think waiting for the right opportunity and observing how the market reacts is far better than rushing into a position.