CZ said that the mention of holding SPCX shares was intended to demonstrate that Binance has sufficient funds and assets beyond cryptocurrencies, not to threaten Musk.
Article
CZ Clarifies that he did not “use money” to threaten Musk, stressing that the holding SPCX of shares was only intended to demonstrate sufficient funds
PANews October 31 reported that Binance founder CZ posted to clarify that some had previously interpreted his remarks about Musk as “using money to threaten” him.CZ said the other party had overinterpreted the remarks; the mention of holding SPCX shares was only because someone in the related discussion compared them with FTX, possibly implying that Binance lacked sufficient funds, which was not the case. He merely wanted to explain that Binance holds assets beyond cryptocurrencies, in a field familiar to Musk.CZ stressed: “I never threaten others. This is one of the core principles I wrote about in my book.” He added that Binance’s shareholding was merely “a drop in the ocean” for them and could not possibly constitute a threat. He also believes SPCX will be one of the quality stocks to hold for the long term.
PANews reported that Binance founder CZ responded on X to interpretations of his remarks about Musk as “using money to threaten” him.
02
CZ said the other party had overinterpreted the remarks. He mentioned holding SPCX shares because someone in the related discussion compared them with FTX, possibly implying that Binance lacked sufficient funds.
03
CZ said Binance holds assets beyond cryptocurrencies, and that these assets are in a field familiar to Musk.
04
CZ said that he never threatens others and that this is one of the core principles he wrote about in his book.
05
CZ said Binance’s shareholding was merely “a drop in the ocean” and did not constitute a threat, and believes SPCX will be one of the quality stocks to hold for the long term.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a clarification concerning the meaning of certain remarks.CZ believes that his mention of SPCX shares was only intended to rebut the implication that Binance lacked sufficient funds and to show that Binance also holds assets beyond cryptocurrencies, rather than to use the shareholding to pressure Musk.
Why it matters to readers
This clarification concerns how the public understands CZ previous remarks, and whether they are viewed as a statement of financial strength or a threat to Musk.
Beginners should distinguish between a party’s explanation of its own remarks and independently verified facts; this evidence reports only CZ clarification and does not establish whether the relevant remarks affected SPCX or other markets.
Risks and unknowns
The evidence does not provide CZ original post, so the full context and exact wording cannot be verified.
The evidence does not include further responses from Musk, Binance, or FTX.
The evidence does not show that the remarks affected SPCX price, trading volume, or other market indicators.
This report alone cannot independently verify the scale of Binance’s holding of SPCX shares or its related financial position.
Related Developments
Loading event timeline…
Related concepts
SPCX shares
This term is not in the glossary yet. Browse related concepts in the glossary.
