CZ Reveals How Binance Handled its $6.3B Crisis
Binance (@binance) did not need outside funding to cover the $6.3 billion exploit, according to co-founder Changpeng Zhao (@cz_binance).
The exchange used its balance sheet rather than borrowing or selling assets.
CZ says the recovery allocation is complete, with only conversions involving smaller cryptocurrencies remaining.
Binance has also resumed withdrawals across nine networks, including Bitcoin $BTC, Ethereum (@ethereum) $ETH, Solana (@solana) $SOL and $XRP (@XRP).
My name is John and I am the owner of LUNA STRIKE FORCE BNB.
I am a $LUNC community holder since April 2022
I am Pro Binance all the way and very fond of CZ.
I believe there is a recovery plan. That is my opinion and belief.
I started my validator 6 months ago. Since day one, I pledged to try and unite the community regardless who you stake with.
I recently launched a FREE game, LUNCblast.com, to unite this community in a fun, fair, and competitive way. Share high scores and practice up. I will continue to develop it. So much more coming… stay tuned.
I started the Hogs with a Heart program to show support for CZs Giggle Academy. To date, this project has raised over 48,087,725 LUNC and it grows daily. 100% of these funds are Giggles. I keep nothing.
I run contests gifting away my own personal rewards. To date I have gifted away over 23,800,000 LUNC coins.
I am managed by Hexxagon who does a great job hosting my validator with perfect run times. They answered all my questions, helped me above and beyond, and earned my trust.
I set my commission to the lowest 2.5% approved by governance and respect the line. Meaning my delegates earn more rewards.
I answer all DMs as quickly as possible.
I post Receipts 🧾 daily.
I will state my opinion or produce receipts to back up everything I say and stand for.
I run Second Chance Pro as long as the conversation stays professional.
I do not ask you to swap your precious LUNC.
I am honest and transparent.
This is who I am, what I believe and stand for. I would be honored to earn your staked coins. Give me a chance to Show You.
No trust me bro here.
Thank you for your support.
I appreciate every coin. Here is the current stats and where 5 Billion more coins take us. Good Luck
Enjoy the FREE Play Community Game.
Everyone in the terra-luna:native community is welcomed here
nitter.cf/i/communities/19959751…
JCH01BNB retweeted
Terra Classic validators voted in a burn tax that destroys a slice of $LUNC on every transfer.
With voluntary exchange burns led by Binance (@binance), it has removed hundreds of billions of tokens from circulation.
How the burn tax works:
bsc.news/post/terra-classic-…
@_JCH01 • I scored 19,298 in LUNC BLAST! Playing for Team Luna Strike Force BNB! Can you beat my practice score? Play free.
#LUNC #LUNCBlast
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Binance Hack Brings CLARITY Act Back Into Focus
Sen. Cynthia Lummis (@SenLummis) says the $6.3 billion Binance (@binance) hack shows why the CLARITY Act matters.
She argues the bill could give crypto firms legal protection to freeze suspicious transactions when law enforcement intervenes.
"The Clarity Act would have given crypto firms legal cover to freeze suspicious transactions the instant law enforcement calls," Lummis noted. "Every minute lost is money gone for good."
The hack has intensified calls for stronger federal oversight of crypto exchanges.
CFTC Chair Michael Selig (@ChairmanSelig) said offshore platforms lack safeguards found in regulated U.S. financial markets. He argued the incident reinforces the need for the agency's proposed crypto framework.
@_JCH01 • I scored 25,244 in LUNC BLAST! Playing for Team Luna Strike Force BNB! Can you beat my practice score? Play free.
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@_JCH01 • I scored 30,537 in LUNC BLAST! Playing for Team Luna Strike Force BNB! Can you beat my practice score? Play free.
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@_JCH01 • I scored 16,467 in LUNC BLAST! Playing for Team Luna Strike Force BNB! Can you beat my practice score? Play free.
#LUNC #LUNCBlast
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@_JCH01 • I scored 13,203 in LUNC BLAST! Playing for Team Luna Strike Force BNB! Can you beat my practice score? Play free.
#LUNC #LUNCBlast
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