#yihe:proofofreserves:10tokensat100%backing 🚨 BINANCE CONFIRMS 10 TOKENS AT 100% RESERVE BACKING AFTER $6.3B SECURITY INCIDENT
Another major development in Binance's recovery efforts!
Binance has published its third security recovery update, confirming that approximately 90% of the affected assets have been replenished, while ten major cryptocurrencies have reached 100% reserve backing.
🔍 Key Updates:
• Total reported security incident: Approximately $6.3 billion.
• Asset replenishment: Increased from 80% to 90%.
• Ten tokens now backed at 100%: $BTC, $ETH, $USDT, $BNB, $SOL, $USDC, $XRP, $USD1, and $ZEC.
• Remaining 10%: Less-liquid tokens still being acquired through market and OTC channels.
• Financial responsibility: Binance says users will not bear the losses.
📊 Proof of Reserves: What's Next?
Binance completed a new Proof of Reserves snapshot on October 31.
The complete zero-knowledge proof is expected on November 3, allowing eligible users to independently verify at least 1:1 reserve backing for the ten listed tokens.
Withdrawals are also expected to resume on November 1, subject to Binance's further confirmation.
💭 My Take
This is a significant step toward restoring confidence after a major security incident.
Replenishing 90% of affected assets and bringing ten major tokens to full reserve backing demonstrates substantial financial action by Binance.
However, the remaining 10%, independent verification and withdrawal resumption are still important milestones.
Trust is built through transparency and consistent execution, not just announcements.
The big question: Does this latest Proof of Reserves update make you more comfortable keeping your crypto on Binance?
Share your thoughts below!
$BNB | $BTC | $ETH
#Binance #ProofOfReserves #SAFU #CryptoSecurity #Bitcoin #Ethereum #BNB
Another major development in Binance's recovery efforts!
Binance has published its third security recovery update, confirming that approximately 90% of the affected assets have been replenished, while ten major cryptocurrencies have reached 100% reserve backing.
🔍 Key Updates:
• Total reported security incident: Approximately $6.3 billion.
• Asset replenishment: Increased from 80% to 90%.
• Ten tokens now backed at 100%: $BTC, $ETH, $USDT, $BNB, $SOL, $USDC, $XRP, $USD1, and $ZEC.
• Remaining 10%: Less-liquid tokens still being acquired through market and OTC channels.
• Financial responsibility: Binance says users will not bear the losses.
📊 Proof of Reserves: What's Next?
Binance completed a new Proof of Reserves snapshot on October 31.
The complete zero-knowledge proof is expected on November 3, allowing eligible users to independently verify at least 1:1 reserve backing for the ten listed tokens.
Withdrawals are also expected to resume on November 1, subject to Binance's further confirmation.
💭 My Take
This is a significant step toward restoring confidence after a major security incident.
Replenishing 90% of affected assets and bringing ten major tokens to full reserve backing demonstrates substantial financial action by Binance.
However, the remaining 10%, independent verification and withdrawal resumption are still important milestones.
Trust is built through transparency and consistent execution, not just announcements.
The big question: Does this latest Proof of Reserves update make you more comfortable keeping your crypto on Binance?
Share your thoughts below!
$BNB | $BTC | $ETH
#Binance #ProofOfReserves #SAFU #CryptoSecurity #Bitcoin #Ethereum #BNB
