š Binance provides an update on fund status following the resumption of withdrawals
After resuming withdrawals in phases this Sunday, November 1, Binance processed $4,649M in withdrawals and $1,010M in deposits over the first 9.5 hours (a net outflow of ~$3,640M).
š Key takeaways from the report:
2.1% of the total: The net outflow represents only 2.1% of its $171,000M in total assets under management (based on the Proof of Reserves from Oct 28).
100% operational (Phase 1): Within less than 7 hours, withdrawals were resumed across 15 major networks (BTC, ETH, USDT, USDC, BNB, SOL, XRP).
Stabilized flows: Withdrawal volume has dropped significantly following the initial surge, and the market remains stable.
A stress test successfully passed, demonstrating both solvency and actual liquidity. š”ļø
$BNB
#Binance #bitcoin #MarketUpdate #crypto #bnb
After resuming withdrawals in phases this Sunday, November 1, Binance processed $4,649M in withdrawals and $1,010M in deposits over the first 9.5 hours (a net outflow of ~$3,640M).
š Key takeaways from the report:
2.1% of the total: The net outflow represents only 2.1% of its $171,000M in total assets under management (based on the Proof of Reserves from Oct 28).
100% operational (Phase 1): Within less than 7 hours, withdrawals were resumed across 15 major networks (BTC, ETH, USDT, USDC, BNB, SOL, XRP).
Stabilized flows: Withdrawal volume has dropped significantly following the initial surge, and the market remains stable.
A stress test successfully passed, demonstrating both solvency and actual liquidity. š”ļø
$BNB
#Binance #bitcoin #MarketUpdate #crypto #bnb