$4.7 billion walked out of Binance in a day and a half. It still wasn't a bank run.
In the first 9.5 hours after withdrawals reopened, Binance processed $4.649B out and $1.01B in — about $3.64B net, or 2.1% of its $171B in assets. By Monday, net outflows since reopening reached $4.72B.
The headline number is huge. Measured against the total, it's under 3%. Next catalyst: the Proof of Reserves report due November 3.
A big number isn't a big move until you divide it by the total.
In the first 9.5 hours after withdrawals reopened, Binance processed $4.649B out and $1.01B in — about $3.64B net, or 2.1% of its $171B in assets. By Monday, net outflows since reopening reached $4.72B.
The headline number is huge. Measured against the total, it's under 3%. Next catalyst: the Proof of Reserves report due November 3.
A big number isn't a big move until you divide it by the total.
