Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits during the first nine and a half hours after withdrawals reopened on Sunday, November 1, resulting in a net outflow of about $3.64 billion, according to the platform. This is equivalent to 2.1% of its total assets under management of $171 billion, based on its latest proof-of-reserves data, dated October 28. Binance said withdrawal volumes declined and began to stabilize after an initial surge, while deposits remained high.

All Phase One networks operational within seven hours

Binance began resuming withdrawals in phases at 06:00 UTC on November 1. By 12:36 UTC, withdrawals had resumed across all 15 networks and assets in Phase One, including BTC, ETH, USDT, USDC, BNB, SOL, and XRP. The platform is now testing the remaining networks and assets and will share details of the next phase as soon as possible.

Withdrawals have stabilized as deposits hold steady

The flow figures cover the period from 06:00 to 15:30 UTC. Binance said withdrawal volumes had declined and begun to stabilize after an early surge, as users regained access to their funds. Total deposits reached $1.01 billion over the same period. The platform said, “Rest assured, market conditions are stable.”

Updated proof-of-reserves report to be released Monday

Binance took a new proof-of-reserves snapshot at 00:00 UTC on October 31 and began calculating the zero-knowledge proof. The updated report is expected to be published on the proof-of-reserves website on Monday, November 2, giving users an up-to-date view of the platform’s reserves and how user balances are backed.#BinanceUpdatesProofofReservesAddresses