GSR Chief Executive Officer Xin Song said the firm is working with its exchange contacts following reports that Binance was breached, as it seeks to better understand the issue and identify where it may be able to help. The company also disclosed that its exposure to Binance is limited, accounting for less than 5% of GSR's net assets. Based on that level of exposure, GSR said it does not expect the situation to cause any major disruption to its day-to-day operations. The statement focused on the firm's current assessment of risk and its coordination with exchange counterparts, without providing additional details beyond those points.
GSR Chief Executive Officer Xin Song said in a post following reports that Binance was breached that the firm is working with its exchange contacts to better understand the issue and determine where it can help.
GSR said its exposure to Binance is limited, at less than 5% of net assets, and that it does not expect any major disruption to day-to-day business operations.
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