After the $6.4B exploit, Binance is refilling user balances with its own money. Per @heyibinance, the exchange allocated $6.34B of corporate funds to the User Fund. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC have all reached 100% full reserve backing. Altcoins not yet fully matched are being bought through market and OTC channels until every token hits 100%. A new Proof of Reserves snapshot was taken at 08:00 (UTC+8) on Oct 31. The zeroknowledge proof takes about 40 to 50 hours, a
AI Market Summary
Binance is injecting $6.34B of corporate funds to restore full 1:1 backing after a $6.4B exploit, with BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC fully reserved and remaining altcoins being bought on market and OTC. This removes counterparty and contagion risk, likely containing near-term downside, though forced OTC altcoin purchases and a pending zk proof keep sentiment cautious.
Impact level
● High
Affected assets
BTC/USDT+0.59%
AI Insight · BTC/USDTAI Insight
● Neutral
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