Binance Processes $4.65 Billion in Withdrawals After Reopening, Net Outflow of $3.64 Billion Equals 2.1% of Its $171 Billion in Assets

Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits in the first nine and a half hours after reopening withdrawals on Sunday, November 1, a net outflow of about $3.64 billion, the exchange said. That equals 2.1% of its $171 billion in total assets under management, based on its latest Proof of Reserves data from October 28. Binance said withdrawal volumes have declined and are stabilising after an initial spike, while deposits have remained substantial.All First-Phase Networks Live Within Seven HoursBinance began restoring withdrawals in phases at 06:00 UTC on November 1. By 12:36 UTC, withdrawals had resumed for all 15 networks and assets in the first phase, including BTC, ETH, USDT, USDC, BNB, SOL and XRP. The exchange is now testing the remaining networks and assets and will share details of the next phase as soon as possible.Withdrawals Stabilise as Deposits Hold UpThe flow figures cover 06:00 to 15:30 UTC. After the early surge as users regained access to their funds, withdrawal volumes fell back and began to stabilise, Binance said. Deposits totalled $1.01 billion over the same period. “Rest assured that market conditions are stable,” the exchange said.Updated Proof of Reserves Report Due MondayBinance took a new Proof of Reserves snapshot at 00:00 UTC on October 31 and has begun computing the zero-knowledge proof. The updated report is expected on its Proof of Reserves website on Monday, November 2, giving users a fresh view of the exchange’s reserves and how user balances are backed.