Binance Processes $4.65B in Withdrawals as Activity Stabilises
Binance processed $4.649B in withdrawals and $1.01B in deposits between 06:00 and 15:30 UTC on November 1, resulting in a net outflow of approximately $3.64B.
That’s around 2.1% of Binance’s $171B in total assets under management, based on its latest available Proof of Reserves data from October 28. After an initial spike, withdrawal volumes are now declining and stabilising, while deposits remain substantial.
Withdrawals have resumed across all 15 networks and assets in the initial phase. Binance is continuing to test the remaining networks and assets, with details of the next phase to follow.
An updated Proof of Reserves report, based on a new snapshot taken on October 31, is expected tomorrow.
Binance processed $4.649B in withdrawals and $1.01B in deposits between 06:00 and 15:30 UTC on November 1, resulting in a net outflow of approximately $3.64B.
That’s around 2.1% of Binance’s $171B in total assets under management, based on its latest available Proof of Reserves data from October 28. After an initial spike, withdrawal volumes are now declining and stabilising, while deposits remain substantial.
Withdrawals have resumed across all 15 networks and assets in the initial phase. Binance is continuing to test the remaining networks and assets, with details of the next phase to follow.
An updated Proof of Reserves report, based on a new snapshot taken on October 31, is expected tomorrow.
