CZ Responds to SPCX Holding Controversy: Never Stated Plans to Sell, Remains Bullish on Long-Term Value

on October 31, CZ responded to discussions regarding SPCX stock on the X platform, clarifying that he never indicated an intention to sell his holdings and stating that SPCX remains a high-quality asset worth holding for the foreseeable future.

CZ explained that he previously mentioned his SPCX position because some posts comparing Binance with FTX may have misled outsiders into believing Binance lacked funds. He actually meant to convey that Binance holds other types of assets in addition to crypto assets.

CZ also noted that the volume of related assets held by Binance is negligible to the other party and cannot constitute a threat. He urged the public not to characterize this as a confrontation and stressed that there is no need to intentionally manufacture discord.

Prior to this, CZ had replied to a post by Musk commenting on the Binance hack incident, stating that while he greatly respects Musk, he felt it was not an appropriate time for jokes. He also mentioned that Binance's SPCX stock holdings originated from a prior $500 million investment Binance made to support Musk's acquisition of Twitter, noting that the stake is now valued at over $1 billion and expressing hope that Musk would provide some support.