How does Binance hedge against leveraged positions?

I have been thinking about this and I don't get how exchanges like Binance hedge against their bets. For example lets say there are way too many leverage positions for a Bitcoin to go up and it happens. Doesn't that mean Binance would take a heavy loss. I haven't seen an example like this in stocks so I am wondering are exchanges taking the risk of taking these losses themselves or are they actually hedging these positions?