🏦 Binance publishes a fresh reserve snapshot after covering $6.34B in hacked assets
Binance says it has fully replenished the roughly $6.34 billion in crypto affected by the October 29 hack, using corporate funds, its SAFU fund and part of its Futures Insurance Fund. An extra proof-of-reserves snapshot taken on November 12 now covers 198 tokens, up from 44 in the November 4 review.
Versus November 4, user BTC balances rose by 2,388 to 687,912 BTC, ETH rose 1.04% to about 3.48 million and BNB rose 1.03%. USDT balances fell 3.68%, or about 928 million, to 24.3 billion. Binance said the full zero-knowledge proof will take about 40 to 50 hours to generate.
⭐ Completing the replenishment and publishing broader reserve data is key to rebuilding trust in the largest exchange, while the steady drop in USDT balances shows some users are still pulling stablecoins.
#Binance #ProofOfReserves #BTC #ETH #USDT
Binance says it has fully replenished the roughly $6.34 billion in crypto affected by the October 29 hack, using corporate funds, its SAFU fund and part of its Futures Insurance Fund. An extra proof-of-reserves snapshot taken on November 12 now covers 198 tokens, up from 44 in the November 4 review.
Versus November 4, user BTC balances rose by 2,388 to 687,912 BTC, ETH rose 1.04% to about 3.48 million and BNB rose 1.03%. USDT balances fell 3.68%, or about 928 million, to 24.3 billion. Binance said the full zero-knowledge proof will take about 40 to 50 hours to generate.
⭐ Completing the replenishment and publishing broader reserve data is key to rebuilding trust in the largest exchange, while the steady drop in USDT balances shows some users are still pulling stablecoins.
#Binance #ProofOfReserves #BTC #ETH #USDT
