Binance Says Withdrawals Outpaced Deposits by $3.64 Billion

Binance said withdrawals exceeded deposits by $3.64 billion in the first 9.5 hours after service resumed Nov. 1, equal to 2.1% of its reported assets under management.

The exchange processed $4.649 billion in withdrawals and $1.01 billion in deposits between 1 a.m. and 10:30 a.m. ET (06:00–15:30 UTC). Binance said the initial withdrawal spike later eased and stabilized as expected, while deposits remained high.

The 2.1% comparison uses an asset total of $171 billion from Binance's latest available proof-of-reserves data, dated Oct. 28. A new reserve snapshot was generated Oct. 31, and zero-knowledge proof calculations have started. Binance expects to publish an updated report on its proof-of-reserves site.

Withdrawals had been restored for all 15 networks and assets covered by the initial phase by 7:36 a.m. ET (12:36 UTC). The flow measurement covers Nov. 1, while the asset figure comes from the Oct. 28 snapshot.