【Binance has provided proof of reserves. Will users still want to stay?】
What Binance needs to repair most this time is no longer just the asset shortfall, but also user trust. On October 31, Binance completed a new snapshot of its reserves and began zero-knowledge proof computations. The full proof is expected to be generated on November 3. Ten major assets, including $BTC , $ETH , $BNB , and USDT, now have 100% reserve coverage, while the overall replenishment rate for affected assets has also reached 90%. This means users will soon be able to independently verify through zero-knowledge proofs whether their account assets are backed by at least 1:1 reserves.
The outcome of users voting with their feet is more telling. After withdrawals resumed on November 1, Binance experienced a large outflow of funds for a time. As of November 2, cumulative net outflows totaled approximately $4.72 billion, or about 2.8% of the platform's assets. That's a substantial figure, but it has not spiraled into an uncontrolled bank run; funds are flowing back in, and withdrawal demand continues.
Binance is gradually stabilizing the situation. The real test is whether it can turn this crisis into an opportunity to rebuild trust. Zero-knowledge proofs address the issue of asset transparency, but they cannot replace a full financial audit or guarantee that nothing will ever go wrong in the future. If proof of reserves is successfully delivered, all remaining assets are replenished, and withdrawals return to normal, Binance may have a chance to regain the confidence of users and the market. The short-term headwinds are fading, but trust must be earned back over time.
#币安10月31日储备金证明快照零知识证明已生成
What Binance needs to repair most this time is no longer just the asset shortfall, but also user trust. On October 31, Binance completed a new snapshot of its reserves and began zero-knowledge proof computations. The full proof is expected to be generated on November 3. Ten major assets, including $BTC , $ETH , $BNB , and USDT, now have 100% reserve coverage, while the overall replenishment rate for affected assets has also reached 90%. This means users will soon be able to independently verify through zero-knowledge proofs whether their account assets are backed by at least 1:1 reserves.
The outcome of users voting with their feet is more telling. After withdrawals resumed on November 1, Binance experienced a large outflow of funds for a time. As of November 2, cumulative net outflows totaled approximately $4.72 billion, or about 2.8% of the platform's assets. That's a substantial figure, but it has not spiraled into an uncontrolled bank run; funds are flowing back in, and withdrawal demand continues.
Binance is gradually stabilizing the situation. The real test is whether it can turn this crisis into an opportunity to rebuild trust. Zero-knowledge proofs address the issue of asset transparency, but they cannot replace a full financial audit or guarantee that nothing will ever go wrong in the future. If proof of reserves is successfully delivered, all remaining assets are replenished, and withdrawals return to normal, Binance may have a chance to regain the confidence of users and the market. The short-term headwinds are fading, but trust must be earned back over time.
#币安10月31日储备金证明快照零知识证明已生成