Binance Processes $4.65 Billion In Withdrawals After Resuming Services, Net Outflow Stands At $3.64 Billion

Binance Processes $4.65 Billion In Withdrawals After Resuming Services, Net Outflow Stands At $3.64 Billion (File Image-REUTERS/Dado Ruvic/Illustration)

Cryptocurrency exchange, Binance has stated it has processed 4.65 billion dollars in withdrawals and 1.01 billion dollars in deposits resulting in a net outflow of approximately 3.64 billion dollars. Binance also stated that withdrawal volumes had declined and were stabilising after an initial spike, while deposit volumes remained substantial. It added that market conditions were stable and testing of the remaining networks and assets continued.

In a detailed statement, Binance said, "Binance began restoring withdrawals in phases at 06:00 UTC on November 1, 2026. By 12:36 UTC, withdrawals had resumed for all 15 networks and assets in the initial phase. After an initial spike, withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial.

Between 06:00 and 15:30 UTC on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion. This represents 2.1% of our $171 billion in total assets under management (AUM), based on the latest available Proof of Reserves (PoR) data as of October 28, 2026. A new PoR snapshot was taken at…

Original source: https://www.timesnownews.com/business-economy