Binance Users Pull $3.64B More Than They Deposited After Restart
Binance users withdrew $3.64 billion more than they deposited in the first 9.5 hours after service resumed Nov. 1, the exchange said. Outflows hit $4.649 billion against $1.01 billion in deposits, equal to 2.1% of Binance’s reported assets under management. The spike eased and stabilized, according to Binance.
Binance said withdrawals topped deposits by $3.64 billion in the first 9.5 hours after service resumed Nov. 1. The exchange processed $4.649 billion in withdrawals and $1.01 billion in deposits between 1 a.m. and 10:30 a.m. ET. That gap equaled 2.1% of Binance’s reported assets under management, according to tokenpost.com.
The withdrawal rush came after Binance restored withdrawals across all 15 networks and assets covered by the initial phase by 7:36 a.m. ET. Binance said the early spike later eased and stabilized as expected, while deposits remained high.
The 2.1% figure uses a $171 billion asset total from Binance’s latest available proof-of-reserves data, dated Oct. 28. A fresh reserve snapshot was generated Oct. 31, and zero-knowledge proof calculations have begun. Binance expects to publish an updated report on its proof-of-reserves site.
The flow measurement covers Nov. 1, while the asset total comes from the Oct. 28 snapshot. Binance’s next proof-of-reserves update will give users a fresh look at reserves after the withdrawal wave.
TopicsBinance
Written by Paparazzi with AI. Not financial advice.