About 90% of affected assets have been replenished; Binance announces proof-of-reserves snapshot
Binance announced that as of October 31, about 90% of affected assets had been replenished, up from the previously disclosed 80%. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now fully backed by reserves; the remaining approximately 10% consists of tokens outside the top 10 previously mentioned. Due to their relatively lower liquidity, it may take longer to acquire enough of them.
Binance said the funds used to replenish the assets came from a portion of the SAFU Fund (expected to be completed within the next 24 hours), some funds from the contract insurance fund, and Binance’s own funds. Binance completed a new proof-of-reserves snapshot at 08:00 on October 31 (UTC+8). The full attestation is expected to be generated on November 3 (UTC).
On-chain data shows that the Binance SAFU Fund address transferred a total of 7,500 BTC in three transactions at around 10:30 and 10:48. The address currently holds 7,500 BTC, worth approximately $580 million. $BNB
Binance announced that as of October 31, about 90% of affected assets had been replenished, up from the previously disclosed 80%. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now fully backed by reserves; the remaining approximately 10% consists of tokens outside the top 10 previously mentioned. Due to their relatively lower liquidity, it may take longer to acquire enough of them.
Binance said the funds used to replenish the assets came from a portion of the SAFU Fund (expected to be completed within the next 24 hours), some funds from the contract insurance fund, and Binance’s own funds. Binance completed a new proof-of-reserves snapshot at 08:00 on October 31 (UTC+8). The full attestation is expected to be generated on November 3 (UTC).
On-chain data shows that the Binance SAFU Fund address transferred a total of 7,500 BTC in three transactions at around 10:30 and 10:48. The address currently holds 7,500 BTC, worth approximately $580 million. $BNB
