🚨 TL;DR: BINANCE HAS NOW REPLENISHED 90% OF THE STOLEN ASSETS!
Here are the key updates:
🔸 Binance has increased loss coverage from 80% to 90%, using SAFU, Futures Insurance Funds and corporate treasury.
🔸 10 major assets, including BTC, ETH, BNB, SOL, USDT and USDC, are now 100% backed.
🔸 Binance will absorb the financial impact. Users will not bear the losses.
🔸 The remaining 10% involves less-liquid tokens that Binance is still sourcing through market and OTC channels.
🔸 A fresh Proof of Reserves snapshot has been published, with full ZK verification expected by November 3.
🔸 Binance remains on track to resume withdrawals on Sunday, November 1, subject to its further confirmation.
🔸 Binance also commits to replenishing SAFU to approximately $1 billion.
The message is clear: protecting users, taking responsibility and restoring normal operations remain the priorities. 🧡
Here are the key updates:
🔸 Binance has increased loss coverage from 80% to 90%, using SAFU, Futures Insurance Funds and corporate treasury.
🔸 10 major assets, including BTC, ETH, BNB, SOL, USDT and USDC, are now 100% backed.
🔸 Binance will absorb the financial impact. Users will not bear the losses.
🔸 The remaining 10% involves less-liquid tokens that Binance is still sourcing through market and OTC channels.
🔸 A fresh Proof of Reserves snapshot has been published, with full ZK verification expected by November 3.
🔸 Binance remains on track to resume withdrawals on Sunday, November 1, subject to its further confirmation.
🔸 Binance also commits to replenishing SAFU to approximately $1 billion.
The message is clear: protecting users, taking responsibility and restoring normal operations remain the priorities. 🧡