🐉 Binance just widened its proof of reserves from 10 tokens to 44, and says 98% of the hack impact is now replenished.
👉 Recovery Update 7, published November 4, says Binance set aside more than 100% of the funds needed from its own resources, and the losses fall on Binance, not its users.
👉 The new snapshot, taken at 00:00 UTC on November 4, covers 44 tokens, up from 10 in the October 31 snapshot, and is available on Binance's Proof of Reserves website.
👉 Replenishment rose from about 95% in the November 2 update to about 98%, with the remaining about 2% in less liquid tokens that take longer to buy through market and OTC channels.
👉 The honest limit: the full zero-knowledge proof for this 44 token snapshot is still being generated, expected to take about 50 to 60 hours, so holders of the 44 tokens cannot yet verify their own balances at least 1:1 for this snapshot.
👉 Withdrawals keep reopening in phases, with no new fixed timetable in this update.
👉 BTC is holding above $80,000 this morning, after the 5 November Daily Report put it at $80,266, so this verification step is landing in a recovering market, not a panicking one.
#BinanceSquare #Binance #BNB #BTC #Crypto
Wider proof is progress, the zero-knowledge proof is still the test.
👉 Recovery Update 7, published November 4, says Binance set aside more than 100% of the funds needed from its own resources, and the losses fall on Binance, not its users.
👉 The new snapshot, taken at 00:00 UTC on November 4, covers 44 tokens, up from 10 in the October 31 snapshot, and is available on Binance's Proof of Reserves website.
👉 Replenishment rose from about 95% in the November 2 update to about 98%, with the remaining about 2% in less liquid tokens that take longer to buy through market and OTC channels.
👉 The honest limit: the full zero-knowledge proof for this 44 token snapshot is still being generated, expected to take about 50 to 60 hours, so holders of the 44 tokens cannot yet verify their own balances at least 1:1 for this snapshot.
👉 Withdrawals keep reopening in phases, with no new fixed timetable in this update.
👉 BTC is holding above $80,000 this morning, after the 5 November Daily Report put it at $80,266, so this verification step is landing in a recovering market, not a panicking one.
#BinanceSquare #Binance #BNB #BTC #Crypto
Wider proof is progress, the zero-knowledge proof is still the test.