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CEO of "TRON" offered to make a deposit of 7,000 BTC on Binance

Wednesday, 08 May 2019

After hacking of the Binance cryptocurrency exchange, which resulted in 7,000 BTC stolen, founder of Tron Justin San announced his intention to make a deposit on Binance in the amount of USD 40 million.
"To support Binance, I will personally deposit 7000 BTC worth USDT (40 million USDT) into Binance to buy BNB, BTC, TRX, & BTT if CZ agrees. No need to FUD! Funds are #SAFU," he wrote on Twitter.

To support @binance , I will personally deposit 7000 BTC worth USDT (40 million USDT) into @binance to buy $BNB, $BTC , $TRX & $BTT if @cz_binance agrees. No need to #FUD! Funds are #SAFU!
— Justin Sun (@justinsuntron) May 8, 2019

This is quite a generous gesture - to invest more than $ 40 million in the hacked platform. However, Justin San is interested in the prosperity of the Binance exchange, because with the help of the Binance Launchpad platform, the BTT token was launched.

Exchange supported and other users of Twitter, expressing words of support. "Hard day for you. But every business has its bad days.. think you've dealt with it well and told the community fast," wrote one of the users.

Note that after reporting the hacking of the largest cryptocurrency exchange, the Bitcoin exchange rate slightly decreased, losing about 4%, but at the moment it is already recovering. This shows that, for traders, hacking Binance turned out to be a surprise, but did not become a disaster.

After speaking with various parties, including @JeremyRubin, @_prestwich, @bcmakes, @hasufl, @JihanWu and others, we decided NOT to pursue the re-org approach. Considerations being:
— CZ Binance (@cz_binance) May 8, 2019

The loss of 7,000 BTC for Binance is significant, but given that the company's profit for 2018 was $ 446 million, the site will certainly survive. The exchange even has the opportunity to reverse the transaction, with support of more than 51% of Bitcoin network creators. However, the exchange team decided not to take such a step.

"After speaking with various parties, including @JeremyRubin, @_prestwich, @bcmakes, @hasufl, @JihanWu and others, we decided NOT to pursue the re-org approach," wrote Changpeng Zhao on Twitter.

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