Binance Puts Net Outflow at 2.1% of Its $171 Billion in Assets as Withdrawals Restart
By Unchained
AI summary of the source article
Binance recorded $3.64 billion in net outflows on Nov. 1 after reopening withdrawals following a roughly $6.3 billion hot-wallet loss. The exchange stated the outflow represented 2.1% of its $171 billion in assets and that 95% of impacted funds are covered.
Key facts
- Binance processed $4.649 billion in withdrawals against $1.01 billion in deposits on Nov. 1, resulting in $3.64 billion in net outflows.
- The net outflow accounted for 2.1% of the $171 billion in assets Binance managed as of Oct. 28.
- Binance reported covering approximately 95% of an estimated $6.3 billion hot-wallet loss as withdrawals restarted in phases.
Source excerpt · Unchained
Deposits brought back about 22 cents for every dollar withdrawn as the exchange restarted withdrawals, and Binance says it has now made up about 95% of the hack losses. The post Binance Puts Net Outflow at 2.1% of Its $171 Billion in Assets as Withdrawals Restart appeared first on Unchained .