Binance recovery progress at a glance (November 3)
• Withdrawals: A phased resumption began on November 1, and all 15 networks in the first batch are now open (including BTC, ETH, BSC, SOL, TRX, and XRP). The second phase begins today, expanding to more networks and assets.
• Fund flows: Over 9.5 hours on November 1, withdrawals totaled $4.649 billion and deposits totaled $1.01 billion, for a net outflow of approximately $3.64 billion—about 2.1% of total assets. Flows have since stabilized.
• Replenishment: Approximately 95% of affected assets have been replenished with Binance’s own funds. The remainder consists mainly of low-liquidity tokens that are still being acquired. Binance reiterated that the platform will cover the losses.
• Proof of Reserves: The ZK proof for the October 31 snapshot is complete. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are all backed at a ratio of at least 1:1 and can be independently verified.
👀 What to watch next: A new snapshot is due on November 4, covering more tokens. The proof is expected to take 40–50 hours. If it is released on time and covers more assets, that would indicate a return to normal operations.
Withdrawals may still be delayed. Refer to the official network status page for updates. This is for informational purposes only and does not constitute investment advice.
#WithdrawalsBack #Binance #ProofOfReserves
• Withdrawals: A phased resumption began on November 1, and all 15 networks in the first batch are now open (including BTC, ETH, BSC, SOL, TRX, and XRP). The second phase begins today, expanding to more networks and assets.
• Fund flows: Over 9.5 hours on November 1, withdrawals totaled $4.649 billion and deposits totaled $1.01 billion, for a net outflow of approximately $3.64 billion—about 2.1% of total assets. Flows have since stabilized.
• Replenishment: Approximately 95% of affected assets have been replenished with Binance’s own funds. The remainder consists mainly of low-liquidity tokens that are still being acquired. Binance reiterated that the platform will cover the losses.
• Proof of Reserves: The ZK proof for the October 31 snapshot is complete. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are all backed at a ratio of at least 1:1 and can be independently verified.
👀 What to watch next: A new snapshot is due on November 4, covering more tokens. The proof is expected to take 40–50 hours. If it is released on time and covers more assets, that would indicate a return to normal operations.
Withdrawals may still be delayed. Refer to the official network status page for updates. This is for informational purposes only and does not constitute investment advice.
#WithdrawalsBack #Binance #ProofOfReserves