$BTC Just came across an update: Binance has something new to say, so here’s a quick take while it’s fresh.
In its third announcement, the numbers have changed: about 90% of the stolen assets have been replenished, up from 80% in the previous update.
Binance says it has fully covered the top ten holdings: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC.
Binance also acknowledged that the remaining 10% hasn’t been replenished yet. It consists of small-cap coins with low liquidity, which take longer to buy and will have to be sourced gradually through the market and over the counter.
They also explained where the funds are coming from: some from SAFU, some from the futures insurance fund, and some from the company’s own funds. They say the SAFU portion will be transferred within 24 hours.
The proof of reserves will come in two stages: a snapshot was taken at 00:00 UTC on October 31, while the complete, independently verifiable zero-knowledge proof is expected on November 3.
One thing to keep in mind: a statement is just a statement. The proof available on November 3 is what counts as evidence, so don’t rush to draw conclusions in the meantime.
Withdrawals are still on the same schedule: phased resumption begins during the day tomorrow, November 1. Not all coins will be available at the same time; the official statement says they’ll be brought back in batches as security checks are completed.
For tonight, don’t rush into anything. Whether the first batch of coins is actually available tomorrow will be the real test.
This is personal analysis and not investment advice.
#BinanceThirdAnnouncement
In its third announcement, the numbers have changed: about 90% of the stolen assets have been replenished, up from 80% in the previous update.
Binance says it has fully covered the top ten holdings: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC.
Binance also acknowledged that the remaining 10% hasn’t been replenished yet. It consists of small-cap coins with low liquidity, which take longer to buy and will have to be sourced gradually through the market and over the counter.
They also explained where the funds are coming from: some from SAFU, some from the futures insurance fund, and some from the company’s own funds. They say the SAFU portion will be transferred within 24 hours.
The proof of reserves will come in two stages: a snapshot was taken at 00:00 UTC on October 31, while the complete, independently verifiable zero-knowledge proof is expected on November 3.
One thing to keep in mind: a statement is just a statement. The proof available on November 3 is what counts as evidence, so don’t rush to draw conclusions in the meantime.
Withdrawals are still on the same schedule: phased resumption begins during the day tomorrow, November 1. Not all coins will be available at the same time; the official statement says they’ll be brought back in batches as security checks are completed.
For tonight, don’t rush into anything. Whether the first batch of coins is actually available tomorrow will be the real test.
This is personal analysis and not investment advice.
#BinanceThirdAnnouncement