points by throw-qqqqq 4 hours ago | 0 comments
Binance has a market cap just shy of $100B, so a $5.8B sure hurts, but it’s not a showstopper I’d say.
[–] gizajob 48 minutes ago
Market cap has nothing to do with free cash to absorb a $6billion loss. Money is also going to pour out of Binance now, one would imagine.
[–] 12_throw_away 1 hour ago
boss: did you just send $5B of our company's liquid capital to a nigerian prince?
me: no worries boss, our market cap is $100B
boss (who is also the tooth fairy): oh right cool np
[–] antonvs 8 minutes ago
That $100 billion is exchange holdings, i.e. customer funds, not market cap. It would be highly illegal for Binance to use any of that $100 billion to cover this loss.
[–] basilgohar 2 hours ago
It really hurts when there's this much misunderstanding of market cap vs. revenue. P/E ratios exist for a reason.
[–] thatguy0900 2 hours ago
That's assuming these AI hacks stop, right? Why would they, ever?
[–] grey-area 4 hours ago