CZ: Binance Covered Costs From Balance Sheet
Changpeng Zhao stated that Binance did not borrow, sell assets, or raise funds for recent costs, covering them entirely from its balance sheet.
Changpeng Zhao@cz_binance · Context: COINMAG Newsroom
Changpeng Zhao stated that Binance did not borrow, sell assets, or raise funds for recent costs, covering them entirely from its balance sheet.
Changpeng Zhao, the founder of Binance, addressed public concerns on X regarding how the exchange handled specific financial obligations. He emphasized that the company did not take on new debt, liquidate assets, or seek external capital to meet these costs.
“A little something that's not mentioned, and ppl may not even think about: Binance did not borrow money Binance did not sell assets Binance did not raise money Binance covered from its balance sheet. This differs from other incidents that people keep wanting to compare to. 🙏”
— Changpeng Zhao (@cz_binance) on X · X ↗
According to Zhao, Binance covered the expenses directly from its existing balance sheet. He noted that this approach distinguishes the current situation from other industry incidents that people often use for comparison, suggesting a different level of financial resilience or operational strategy.
Changpeng Zhao is not affiliated with COINMAG. The quote comes from a public post on X; the context was written by the COINMAG newsroom.
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