WuBlockchain
Binance says it has replenished 90% of the shortfall from stolen assets, and withdrawals remain on track to resume Nov. 1. The exchange said its 10 largest tokens, including BTC, ETH, USDT, BNB and SOL, are now fully backed by reserves.
Why it matters
Binance funded the replenishment through a partial deployment of its Secure Asset Fund for Users (SAFU), excess balances from its Futures Insurance Fund and corporate treasury funds. The exchange said the Futures fund reallocation stays above regulatory and risk-management requirements.
Market impact
Binance committed to replenishing SAFU to approximately $1 billion. The Nov. 1 withdrawal schedule is the next operational milestone for users, while the remaining shortfall and SAFU restoration are key measures of the exchange's recovery.
Frequently asked questions
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How much of the stolen-asset shortfall has Binance replenished?
Binance says it has replenished 90% of the shortfall.
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Which tokens does Binance say are fully backed by reserves?
Binance says its 10 largest tokens are fully backed, including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC.
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What funding sources did Binance use for replenishment?
Binance cited a partial SAFU deployment, excess balances from its Futures Insurance Fund and funds from its corporate treasury.
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When are Binance withdrawals scheduled to resume?
Binance says withdrawal services remain on track to resume Nov. 1.
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What has Binance committed to do with SAFU?
Binance said it will replenish SAFU to approximately $1 billion.
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