A $3.64B outflow headline needs its time window—and its denominator.
Binance reported $4.649B in withdrawals and $1.010B in deposits from 06:00–15:30 UTC on Nov 1: net outflow about $3.64B. Binance says withdrawals later eased after an initial spike.
The 2.1% comparison uses $171B in assets from the Oct 28 Proof of Reserves snapshot. A nine-and-a-half-hour flow and a reserve snapshot are different measures; neither alone proves insolvency or tells us where BTC goes next.
All 15 Phase 1 networks/assets were live by 12:36 UTC. Check the exact asset/network status before transferring. Binance said its updated PoR report was expected Nov 2.
What would you watch next: the new PoR, the incident report, or whether flows stabilize?
Sources: https://www.binance.com/en/square/post/383447089416749 | https://www.binance.com/en/square/post/383626204115892
#BinanceToResumePhaseOneOfWithdrawals #BinanceUpdatesProofofReserves #CryptoSecurity
Binance reported $4.649B in withdrawals and $1.010B in deposits from 06:00–15:30 UTC on Nov 1: net outflow about $3.64B. Binance says withdrawals later eased after an initial spike.
The 2.1% comparison uses $171B in assets from the Oct 28 Proof of Reserves snapshot. A nine-and-a-half-hour flow and a reserve snapshot are different measures; neither alone proves insolvency or tells us where BTC goes next.
All 15 Phase 1 networks/assets were live by 12:36 UTC. Check the exact asset/network status before transferring. Binance said its updated PoR report was expected Nov 2.
What would you watch next: the new PoR, the incident report, or whether flows stabilize?
Sources: https://www.binance.com/en/square/post/383447089416749 | https://www.binance.com/en/square/post/383626204115892
#BinanceToResumePhaseOneOfWithdrawals #BinanceUpdatesProofofReserves #CryptoSecurity