Binance finally put numbers on the table after the $6.3B hack, and to me they matter more than any statement from the team. The new proof of reserves, based on an October 31 snapshot, shows BTC at 100.04%, ETH at 100%, USDT at 100%, USDC at 106.08%, XRP at 100.99% and BNB at 101.30%. Binance also says it has already replaced about 95% of the stolen assets from its own funds, including an insurance fund and its bitcoin reserve, while stablecoin issuers froze roughly $3B of the loot. My take: this is solid crisis management, but the snapshot predates the big withdrawal wave, and users pulled a net $4.7B after withdrawals reopened, according to Reuters. What I'm watching next is the November 4 snapshot covering more tokens and whether $BNB can hold the $700 area. If the second proof also comes back 1:1, I think the panic fades fast. If it slips, expect another round of outflows.