🟡 Binance update: reimbursement done, new reserves data, Bangkok in two weeks
🔹 Nov 13: Binance said it has completed reimbursing the roughly 6.34B USD in assets affected by the Oct 29 security incident. It used company funds, part of the SAFU fund and its Futures Insurance Fund, and plans to restore SAFU to about 1B USD
🔹 Reserves snapshot (Nov 12 vs Nov 4, compared by Wu Blockchain): USDT down about 928M to about 24.3B, BTC up 2,388 to 687,912, ETH up 35,911 to 3,482,001, $BNB up to about 42.95M
🔹 Proof-of-reserves coverage grew to 198 assets, up from 44
🔹 US authorities obtained court approval to seize or restrain more than 1.2B USD of the stolen funds
📅 Coming up: Binance Blockchain Week, Nov 28–29 in Bangkok (Queen Sirikit National Convention Center). Announced speakers include CZ, Arthur Hayes, BlackRock's Dan Maley and Franklin Templeton's Roger Bayston.
Falling USDT with rising BTC and ETH could mean users moved stablecoins out while coin holdings grew. One snapshot doesn't tell the full story, so I'll keep watching the next one.
Have you moved funds back to Binance since withdrawals reopened? 👇
📷 Photo: Waranont (Joe) / Unsplash
🔹 Nov 13: Binance said it has completed reimbursing the roughly 6.34B USD in assets affected by the Oct 29 security incident. It used company funds, part of the SAFU fund and its Futures Insurance Fund, and plans to restore SAFU to about 1B USD
🔹 Reserves snapshot (Nov 12 vs Nov 4, compared by Wu Blockchain): USDT down about 928M to about 24.3B, BTC up 2,388 to 687,912, ETH up 35,911 to 3,482,001, $BNB up to about 42.95M
🔹 Proof-of-reserves coverage grew to 198 assets, up from 44
🔹 US authorities obtained court approval to seize or restrain more than 1.2B USD of the stolen funds
📅 Coming up: Binance Blockchain Week, Nov 28–29 in Bangkok (Queen Sirikit National Convention Center). Announced speakers include CZ, Arthur Hayes, BlackRock's Dan Maley and Franklin Templeton's Roger Bayston.
Falling USDT with rising BTC and ETH could mean users moved stablecoins out while coin holdings grew. One snapshot doesn't tell the full story, so I'll keep watching the next one.
Have you moved funds back to Binance since withdrawals reopened? 👇
📷 Photo: Waranont (Joe) / Unsplash
