✅ The main thing: promises are being kept
· Withdrawals restored: Binance has launched a phased withdrawal of assets. The first phase includes major coins (BTC, ETH, USDT, BNB, SOL, XRP, etc.).
· Compensation nearly complete: Binance said it has covered about 95% of the stolen funds from its own reserves (up from 90%). The remaining 5% consists of low-liquidity tokens that will take longer to buy.
· The market is stable: Despite a record-breaking hack ($6.3 billion), there was no panic sell-off. Bitcoin is trading at around $78,000 on the morning of November 2, recovering after a dip.
⚠️ What else to keep in mind
· Around $3 billion frozen: Tether and Circle managed to block a significant portion of the stolen funds, easing pressure on the market.
· Some funds may still be with the hackers: According to the WSJ, around $3.3 billion may still be in the hands of the attackers (reportedly linked to North Korea). This is a risk, but it does not affect Binance's obligations to its users.
· Delays are possible: Temporary delays may occur in the first few days after withdrawals resume due to high traffic.
In short: The crisis has passed. Binance is meeting its financial obligations, withdrawals are working, and the market is showing no signs of collapse. Panic would be warranted if the exchange had frozen users' funds or lacked reserves, but the facts currently point to the opposite.
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