Binance withdrawals take another step forward: this afternoon, fiat channels opened and USD withdrawals became available
First, the latest development: Binance announced on its official X account this afternoon that fiat withdrawals now support five additional currencies: the US dollar, UAE dirham, Vietnamese dong, Philippine peso, and Indonesian rupiah. Reuters also confirmed today that cash withdrawals in USD have resumed; withdrawals in euros, yen, and other currencies had already resumed.
How is this different from before? On November 1, withdrawals of crypto across 15 networks opened—the coins could move. Today, fiat withdrawals opened—the money can actually leave. For users affected by the roughly $6.3 billion theft on October 29, the USD channel is the most crucial one. The question people had been asking—“I’ve withdrawn my coins, but how do I get the money out?”—finally has its first answer today.
But let’s not overstate it. First, Defiant explicitly noted in the same article that although the first 15 crypto networks are all open, withdrawals of some tokens have yet to resume. Second, specific fees and limits weren’t announced this time, so rely on the terms provided through official channels. Third, two bigger hurdles remain: the full zero-knowledge proof of reserves is still expected on November 3, according to the latest information, and there’s still no official timeline for the remaining assets and networks in phase two.
My take: the order of the recovery says a lot. First, support major cryptocurrencies and stablecoins, then open fiat withdrawals. The approach is “get most people moving first, then fill in the gaps.” That doesn’t mean the incident is over. To truly wrap things up, we need to see two things: whether the full proof of reserves on November 3 reconciles, and when phase two will be announced. Price snapshot: $BTC at about 78,086 (24h +0.05%), and $ETH at about 2,291 (24h +0.89%). The market hasn’t moved much on this news, suggesting it sees this as one step in the recovery process, not a reversal signal.
Risk reminder: this is progress in the recovery, not a verdict on security. Tracking of the stolen funds is ongoing, and as of noon there were no new signs of outward transfers from the six newly split XRP wallets. Don’t mistake “withdrawals are available” for “everything is back to normal.”
What do you think? Now that the USD channel is open, would you withdraw some funds and lock in the gains, or leave them there while waiting for phase two and the proof of reserves?
#Binance #BTC #ETH
First, the latest development: Binance announced on its official X account this afternoon that fiat withdrawals now support five additional currencies: the US dollar, UAE dirham, Vietnamese dong, Philippine peso, and Indonesian rupiah. Reuters also confirmed today that cash withdrawals in USD have resumed; withdrawals in euros, yen, and other currencies had already resumed.
How is this different from before? On November 1, withdrawals of crypto across 15 networks opened—the coins could move. Today, fiat withdrawals opened—the money can actually leave. For users affected by the roughly $6.3 billion theft on October 29, the USD channel is the most crucial one. The question people had been asking—“I’ve withdrawn my coins, but how do I get the money out?”—finally has its first answer today.
But let’s not overstate it. First, Defiant explicitly noted in the same article that although the first 15 crypto networks are all open, withdrawals of some tokens have yet to resume. Second, specific fees and limits weren’t announced this time, so rely on the terms provided through official channels. Third, two bigger hurdles remain: the full zero-knowledge proof of reserves is still expected on November 3, according to the latest information, and there’s still no official timeline for the remaining assets and networks in phase two.
My take: the order of the recovery says a lot. First, support major cryptocurrencies and stablecoins, then open fiat withdrawals. The approach is “get most people moving first, then fill in the gaps.” That doesn’t mean the incident is over. To truly wrap things up, we need to see two things: whether the full proof of reserves on November 3 reconciles, and when phase two will be announced. Price snapshot: $BTC at about 78,086 (24h +0.05%), and $ETH at about 2,291 (24h +0.89%). The market hasn’t moved much on this news, suggesting it sees this as one step in the recovery process, not a reversal signal.
Risk reminder: this is progress in the recovery, not a verdict on security. Tracking of the stolen funds is ongoing, and as of noon there were no new signs of outward transfers from the six newly split XRP wallets. Don’t mistake “withdrawals are available” for “everything is back to normal.”
What do you think? Now that the USD channel is open, would you withdraw some funds and lock in the gains, or leave them there while waiting for phase two and the proof of reserves?
#Binance #BTC #ETH
