Binance Completes Reserve Proof, Plans a Nov. 4 Snapshot

Binance has completed a zero-knowledge proof for its Oct. 31 UTC reserve snapshot and plans a broader token snapshot Nov. 4, giving users a way to check its reserves across more assets.

About 95% of the affected assets have been replenished, unchanged from Nov. 1. The remaining 5% consists of tokens not among the 10 assets listed as fully reserve-backed. Their lower liquidity has made it take longer to acquire the required amounts, and Binance is working with industry partners on those purchases.

The snapshot was taken at 00:00 UTC Oct. 31 (8 p.m. ET Oct. 30), and its proof is ready for independent verification, following Binance’s earlier proof-generation schedule. Binance lists 10 assets as fully reserve-backed. It expects generating the updated proof after the Nov. 4 snapshot to take about 40 to 50 hours.

Binance expects withdrawals for more networks and assets to resume in a gradual next phase Nov. 3. The exchange plans to provide details when they are ready.