Binance Reserves Over $6.34 Billion in Funds Following Historic Security Breach

Binance announced it has reserved over $6.34 billion in company funds to protect customer deposits and cover obligations following a historic $6.3 billion security breach. The incident involved the theft of $1.45 billion in Bitcoin and $875 million in Ethereum, alongside assets on TRON and the XRP Ledger. Approximately $3 billion of stolen funds has been frozen on-chain, including actions by Tether and Circle. Co-founder Changpeng Zhao highlighted Binance's $1 billion-plus SpaceX stake, though leadership confirmed operational revenue and SAFU reserves will cover liabilities without selling SpaceX equity.