#BackedNotBroken:RichardTengSaysUsersBearNoLoss
๐ก๏ธ Teng: 90% of Stolen Assets Replaced, Users Bear No Loss
๐ Oct 31: co-CEO Richard Teng said Binance has replenished 90% of assets taken in the $6.3B hack, up from 80% a day earlier
๐ฌ "Our users will not bear the financial impact of this incident"
๐ BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC now 100% backed
๐ The last 10% is less liquid tokens, still being bought via market and OTC
๐ฐ Over $6.34B in company funds set aside, separate from about $3B frozen by partners
๐ Withdrawals to resume Nov 1 in phases; full zero-knowledge reserve proof expected Nov 3
What it means for crypto: a funded payout eases contagion fears, but the Nov 3 proof is what turns a pledge into evidence.
Will you wait for the reserve proof before moving funds? ๐
$BNB $BTC $ETH
#CryptoNews #Binance #BackedNotBroken:RichardTengSaysUsersBearNoLoss
๐ก๏ธ Teng: 90% of Stolen Assets Replaced, Users Bear No Loss
๐ Oct 31: co-CEO Richard Teng said Binance has replenished 90% of assets taken in the $6.3B hack, up from 80% a day earlier
๐ฌ "Our users will not bear the financial impact of this incident"
๐ BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC now 100% backed
๐ The last 10% is less liquid tokens, still being bought via market and OTC
๐ฐ Over $6.34B in company funds set aside, separate from about $3B frozen by partners
๐ Withdrawals to resume Nov 1 in phases; full zero-knowledge reserve proof expected Nov 3
What it means for crypto: a funded payout eases contagion fears, but the Nov 3 proof is what turns a pledge into evidence.
Will you wait for the reserve proof before moving funds? ๐
$BNB $BTC $ETH
#CryptoNews #Binance #BackedNotBroken:RichardTengSaysUsersBearNoLoss
