#币安更新储备证明地址 Binance withdrawals are back! But “making up 90%” and “recovering 90%” are two completely different things
On 10/30, I wrote “withdraw within 48 hours.” Today, 11/1, withdrawals resumed right within that 48-hour window. But “making up 90%” and “recovering 90%” are two completely different things.
📊 Key figures
· The first phase of withdrawals resumed from 14:00 to 17:00 on 11/1, covering the first 15 networks
· Withdrawals have resumed on Ethereum and BNB Smart Chain
· Coverage rose from 80% to 90%, with 10 assets covered 100%
· Binance set aside over $6.34 billion to fill the shortfall
· The remaining 10% consists of low-liquidity tokens that need to be purchased OTC
🔍 The key distinction
Let’s get the terms straight: Binance didn’t recover stolen funds; it filled the hole with its own money—using its own funds to buy back an equivalent amount of assets and put them back into reserves, so users’ account balances are backed 1:1. So “making up 90%” means the platform has filled 90% of the shortfall, not that 90% of the hackers’ money has been recovered. Only around $3 billion was actually frozen on-chain; the rest couldn’t be frozen, and Binance is shouldering the difference itself.
🧊 Three reality checks
1. Withdrawals resuming ≠ the risk is gone. The postmortem hasn’t been published, and the entry point hasn’t been identified. The same door could be forced open again.
2. The remaining 10% is hard to make up because of liquidity, not a lack of money.
3. This is SAFU’s first real use; after the funds are spent, it will need to be replenished back to $1 billion.
💡 My take
First, a self-check: On 10/30, I wrote “withdraw within 48 hours,” and today withdrawals resumed right within that window—my prediction came true. But I initially saw this as bad news and underestimated the other side of the story: Binance is putting up real money to fill 90% of the shortfall, and that in itself is an investment in confidence. What the market may have priced in isn’t “withdrawals are open,” but “Binance is taking a $6.3 billion loss itself.” When an exchange gets into trouble, first look at whether it’s willing to pay out of pocket—not how much it manages to recover.
Finish making any withdrawals you need, but don’t bet on “platform recovery = market reversal.” The PoR won’t be released until 11/3, and the postmortem still hasn’t been published. The impact of the election, nonfarm payrolls, and CPI is much greater than Binance resuming withdrawals.
⚠️ Not investment advice. Binance is putting up $6.3 billion to fill the hole—what do you think? Let’s discuss in the comments 👇
On 10/30, I wrote “withdraw within 48 hours.” Today, 11/1, withdrawals resumed right within that 48-hour window. But “making up 90%” and “recovering 90%” are two completely different things.
📊 Key figures
· The first phase of withdrawals resumed from 14:00 to 17:00 on 11/1, covering the first 15 networks
· Withdrawals have resumed on Ethereum and BNB Smart Chain
· Coverage rose from 80% to 90%, with 10 assets covered 100%
· Binance set aside over $6.34 billion to fill the shortfall
· The remaining 10% consists of low-liquidity tokens that need to be purchased OTC
🔍 The key distinction
Let’s get the terms straight: Binance didn’t recover stolen funds; it filled the hole with its own money—using its own funds to buy back an equivalent amount of assets and put them back into reserves, so users’ account balances are backed 1:1. So “making up 90%” means the platform has filled 90% of the shortfall, not that 90% of the hackers’ money has been recovered. Only around $3 billion was actually frozen on-chain; the rest couldn’t be frozen, and Binance is shouldering the difference itself.
🧊 Three reality checks
1. Withdrawals resuming ≠ the risk is gone. The postmortem hasn’t been published, and the entry point hasn’t been identified. The same door could be forced open again.
2. The remaining 10% is hard to make up because of liquidity, not a lack of money.
3. This is SAFU’s first real use; after the funds are spent, it will need to be replenished back to $1 billion.
💡 My take
First, a self-check: On 10/30, I wrote “withdraw within 48 hours,” and today withdrawals resumed right within that window—my prediction came true. But I initially saw this as bad news and underestimated the other side of the story: Binance is putting up real money to fill 90% of the shortfall, and that in itself is an investment in confidence. What the market may have priced in isn’t “withdrawals are open,” but “Binance is taking a $6.3 billion loss itself.” When an exchange gets into trouble, first look at whether it’s willing to pay out of pocket—not how much it manages to recover.
Finish making any withdrawals you need, but don’t bet on “platform recovery = market reversal.” The PoR won’t be released until 11/3, and the postmortem still hasn’t been published. The impact of the election, nonfarm payrolls, and CPI is much greater than Binance resuming withdrawals.
⚠️ Not investment advice. Binance is putting up $6.3 billion to fill the hole—what do you think? Let’s discuss in the comments 👇
