CZ: Binance Net Outflow Was Just 2.1% After Withdrawals Reopened, Mostly in the First Hours

Binance founder Changpeng Zhao (CZ) said on Sunday, November 1, that the exchange’s net outflow after withdrawals reopened amounted to 2.1% of its assets, with most of it occurring in the first couple of hours. He noted that Binance also took in more than $1 billion in deposits. Binance’s own data shows $4.65 billion in withdrawals and $1.01 billion in deposits between 06:00 and 15:30 UTC, a net outflow of about $3.64 billion against $171 billion in total assets. “Trust isn’t earned by what you say in good times,” CZ wrote. “It’s earned by what you do in hard times.”