TechReuters1h ago
Binance says it has covered 90% of its hack losses, having set aside
Binance says it has covered 90% of its hack losses, having set aside $6.34B+ of company funds; the remaining 10% is in less liquid tokens
TL;DRBinance covered 90% of hack losses; remaining 10% stuck in illiquid tokens.
Why it matters: Shows exchange solvency but highlights risks when reserves aren't in readily accessible assets.
Cryptocurrency exchange Binance said on Saturday that it was able to cover 90% of the amount stolen during its recent hack.
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