Around 8:59 p.m. last night, Binance’s fifth recovery update turned one thing from “wait and see” into something users can “check for themselves”:
The facts—
Binance’s official Square news page published its fifth recovery update on November 2. It said the full zero-knowledge proof for the reserve snapshot taken at 00:00 UTC on October 31 (08:00 Beijing time on October 31) had been completed within the originally estimated timeframe. The ten tokens that can be independently verified are BTC, ETH, USDT, $BNB , SOL, USDC, XRP, USD1, RLUSD, and ZEC. Users holding any of these tokens can use the verification tool on the Proof of Reserves website to confirm that their balances are covered at least 1:1.
According to Binance, users can verify their holdings by logging in on the official website, downloading the verification tool from the Proof of Reserves page, and running it on their own computer. The tool is open-source and has undergone an independent audit. The Merkle tree confirms that an individual account’s assets are included in the snapshot, while the zk-SNARK proves that reserves cover user balances at least 1:1 without revealing individual balances.
The replenishment figure hasn’t changed: it remains around 95%, up from roughly 90% on October 31. The remaining approximately 5% consists of less liquid tokens outside the ten major tokens, which Binance says it is continuing to buy in cooperation with industry partners.
The timeline for the next steps was also included in the same update: another snapshot covering more tokens will be taken on November 4 (Wednesday), and generating the new full zero-knowledge proof will take another 40 to 50 hours. The next phase of withdrawals is planned to roll out in stages today (November 3, Tuesday). For the specific opening time of any particular network or asset, refer to future official announcements.
The affected coin—
$BNB is now around $699, down 2.0% over the past 24 hours, with a 24-hour range of $694 to $716 and approximately $81.22 million in 24-hour spot trading volume. Over the past 7 days, the range has been $680 to $762, and the price is down 8.1%. It is still near the lower end of the 7-day range. Put simply, from $705 last night to around $699 now, I’d treat this stretch as a period to watch for price stabilization, not as a sign that the event is over.
Risks, separately—
First, independent verification is available only for the ten tokens and only for the snapshot taken at 00:00 UTC on October 31. It does not cover tokens outside those ten, nor does it reflect fund flows after the snapshot or during the withdrawal resumption. The proof itself is not a comprehensive audit.
Second, 95% is not 100%. The remaining approximately 5% is still being purchased, so don’t mistake “full coverage for the ten tokens” for “everything is complete” until the shortfall has been fully replenished.
Third, the next phase of withdrawals is only “planned to roll out in stages today.” This update doesn’t give a specific schedule by network or asset. Check the withdrawal page or network status page for the actual opening times.
Fourth, Binance itself is reminding users to verify only through the official website, not to share login information, not to use untrusted devices, not to click unofficial links, and not to authorize wallets or disclose account information on any external site.
Once the next phase of withdrawals is actually open, will you first check the status of the network you usually use, or run the verification proof yourself?
#币安 #MarketWatch
The facts—
Binance’s official Square news page published its fifth recovery update on November 2. It said the full zero-knowledge proof for the reserve snapshot taken at 00:00 UTC on October 31 (08:00 Beijing time on October 31) had been completed within the originally estimated timeframe. The ten tokens that can be independently verified are BTC, ETH, USDT, $BNB , SOL, USDC, XRP, USD1, RLUSD, and ZEC. Users holding any of these tokens can use the verification tool on the Proof of Reserves website to confirm that their balances are covered at least 1:1.
According to Binance, users can verify their holdings by logging in on the official website, downloading the verification tool from the Proof of Reserves page, and running it on their own computer. The tool is open-source and has undergone an independent audit. The Merkle tree confirms that an individual account’s assets are included in the snapshot, while the zk-SNARK proves that reserves cover user balances at least 1:1 without revealing individual balances.
The replenishment figure hasn’t changed: it remains around 95%, up from roughly 90% on October 31. The remaining approximately 5% consists of less liquid tokens outside the ten major tokens, which Binance says it is continuing to buy in cooperation with industry partners.
The timeline for the next steps was also included in the same update: another snapshot covering more tokens will be taken on November 4 (Wednesday), and generating the new full zero-knowledge proof will take another 40 to 50 hours. The next phase of withdrawals is planned to roll out in stages today (November 3, Tuesday). For the specific opening time of any particular network or asset, refer to future official announcements.
The affected coin—
$BNB is now around $699, down 2.0% over the past 24 hours, with a 24-hour range of $694 to $716 and approximately $81.22 million in 24-hour spot trading volume. Over the past 7 days, the range has been $680 to $762, and the price is down 8.1%. It is still near the lower end of the 7-day range. Put simply, from $705 last night to around $699 now, I’d treat this stretch as a period to watch for price stabilization, not as a sign that the event is over.
Risks, separately—
First, independent verification is available only for the ten tokens and only for the snapshot taken at 00:00 UTC on October 31. It does not cover tokens outside those ten, nor does it reflect fund flows after the snapshot or during the withdrawal resumption. The proof itself is not a comprehensive audit.
Second, 95% is not 100%. The remaining approximately 5% is still being purchased, so don’t mistake “full coverage for the ten tokens” for “everything is complete” until the shortfall has been fully replenished.
Third, the next phase of withdrawals is only “planned to roll out in stages today.” This update doesn’t give a specific schedule by network or asset. Check the withdrawal page or network status page for the actual opening times.
Fourth, Binance itself is reminding users to verify only through the official website, not to share login information, not to use untrusted devices, not to click unofficial links, and not to authorize wallets or disclose account information on any external site.
Once the next phase of withdrawals is actually open, will you first check the status of the network you usually use, or run the verification proof yourself?
#币安 #MarketWatch
