CZ thanks Thai partner Gulf for backing Binance through two crises

Binance's founder says Gulf Binance offered liquidity support after the 2023 fine and again during a security incident with estimated losses of approximately $6 to $6.3 billion Changpeng Zhao has a short list of people who called when things got ugly. One of them is a Thai energy conglomerate’s crypto venture. In a post on X on October 30, 2026, the Binance founder, known as CZ, praised Gulf Binance Co., Ltd., the exchange’s partner in Thailand, for offering liquidity support twice. The first time was after Binance’s $4 billion fine in 2023. The second time is happening now, as Binance works through a cybersecurity incident with estimated losses of approximately $6 to $6.3 billion. What happened at Binance The security incident surfaced around October 29 to 30, 2026. Losses are estimated at roughly $6 billion to $6.3 billion. That range is an estimate, not a final accounting. Binance plans to cover the losses through its Secure Asset Fund for Users, better known as SAFU, along with other resources. SAFU is essentially the exchange’s emergency reserve. Stablecoin issuers have also reportedly stepped in. Tether and Circle have reportedly frozen stablecoin amounts connected to the inc...