Binance restored withdrawals for 51 additional tokens on Ethereum and Solana on 3 November, the second phase of its reopening after the $6.3 billion hack of 29 October, and plans a new reserves snapshot today covering more assets than the ten in its first zero-knowledge proof (crypto.news, 3 November). The full proof for that second snapshot is expected to take 40 to 50 hours, which puts the finished report no earlier than about 6 November if generation starts with the snapshot (our arithmetic). Separately, US spot bitcoin ETFs recorded a net outflow of $115.56 million on 3 November, according to SoSoValue data in crypto.news. Bitcoin traded at $77,801.29 on Coinbase at 07:05 UTC.
Phase two: what Binance reopened
The second phase began at 04:00 UTC on 3 November and covers 31 tokens on Ethereum and 20 on Solana, including LINK, SHIB, ONDO, BONK and TRUMP, along with five Ethereum stablecoins: RLUSD, USD1, TUSD, FDUSD and XUSD. The first phase on 1 November had restored Bitcoin and several other assets across 15 networks. Binance has not given a timetable for the remaining networks, which it lists as BNB Smart Chain, the XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base, and says it is prioritising by last week’s withdrawal demand and that each asset and network must pass security checks (crypto.news). It says about 95% of the affected assets have been replaced from company resources, that the remaining 5% is in less-liquid tokens being bought on the market and over the counter, and that it intends to bring its SAFU emergency reserve back to about $1 billion (TechBriefly).
The reserves proof: what exists and what does not
On 2 November Binance completed a zero-knowledge proof for a snapshot dated 31 October at 00:00 UTC covering BTC, ETH, BNB, XRP, SOL, ZEC, USDT, USDC, USD1 and RLUSD. TechBriefly summarises the limits: the proof lets a customer confirm that their balance was included and that holdings were backed at least one-to-one at that moment, without revealing individual holdings, but it covers only balances at the snapshot time and does not establish the exchange’s current financial position or audit overall solvency. The full report that co-CEO Richard Teng had promised for 2 November has not, in the coverage we could find as of 07:00 UTC, been published, and the second snapshot will not by itself change that.
| Field Guide #71 check | What is public so far | Status |
|---|---|---|
| 1. Who verified it? | A cryptographic proof generated by Binance; no independent auditor named in the coverage we read | Not met |
| 2. Liabilities as well as assets? | Users can verify their own balance is included and backed 1:1; overall solvency is explicitly not established | Partly met |
| 3. Control of the addresses? | Not described in the coverage we read | Not yet shown |
| 4. Snapshot timing | 31 Oct 00:00 UTC snapshot was taken after the hack, while replacement was under way (about 80% on 30 Oct, 90% on 31 Oct); a second snapshot is due 4 Nov | Partly met |
| 5. What is in the reserves? | Ten named assets, including Binance’s own BNB and the stablecoins USD1 and RLUSD; a wider list is promised | Partly met |
Scored against the checklist in Field Guide #71, based on press coverage, not the report itself.
The timing point matters because, as Bitcoin.com’s 31 October report noted, critics argued that a snapshot taken after the buyback could hide the size of any shortfall; the same report said none of the inside-job claims online was backed by hard evidence. TRM Labs attributes the theft with high confidence to North Korea’s TraderTraitor group, and Binance said it had no evidence that wallet private keys were leaked. We previously examined the attribution in Field Guide #73.
Video: a news summary of Binance’s 10-asset reserves proof, published 3 November 2026.
A scam warning for customers
Binance issued a security advisory on 2 November warning that scammers may impersonate its representatives and offer help with delayed withdrawals, compensation claims or asset recovery, through fraudulent emails, direct messages, group chats and small crypto transfers carrying malicious instructions. It says it does not charge fees to unlock withdrawals, does not offer paid recovery services and never asks users to authorise wallet transactions to regain access, and it flagged fake proof-of-reserves websites and fraudulent compensation-eligibility links (TechBriefly). The practical rule: only use the official Binance app or site, and treat any message that claims to speed up a withdrawal as a scam.
Spot bitcoin ETFs: a third straight outflow session
| Date | Net flow | Detail |
|---|---|---|
| Fri 30 Oct | −$643.3 million | Largest daily outflow since the end of June |
| Mon 2 Nov | −$398.6 million | IBIT −$405.3 million; FBTC +$6.7 million |
| Tue 3 Nov | −$115.56 million | Fund-level breakdown not yet available to us |
| Three sessions | −$1,157.5 million | Our sum of the three daily figures |
Daily totals as reported by SoSoValue via crypto.news, TokenPost and Bitcoin.com; the three-session total is our arithmetic.
The outflow shrank sharply on 3 November, to about 29% of the previous session’s total ($115.56 million against $398.6 million), but it extended the run to three consecutive sessions of redemptions. CoinDesk puts the outflow for October at about $515 million and an equal amount for the first two trading days of November. The four-day inflow streak before 30 October (about $440.8 million, covered in our 31 October update) has now been more than reversed. Flow data is reported after the US close, so each day’s figure arrives with a lag, and providers sometimes differ by a few million dollars.
Video: a live discussion of bitcoin and ETF outflows, streamed 3 November 2026.
Chips: AMD beats and jumps after the bell
After the close on 3 November AMD reported third-quarter revenue of $13.377 billion, up 45%, with data-centre revenue of $8.546 billion, up 97%, and non-GAAP earnings per share of $2.09. It guided fourth-quarter revenue to about $17 billion plus or minus 3% (AMD, 3 November). Wall Street had expected revenue of about $13.1 billion (Yahoo Finance), and StockTitan showed the shares up 6.56% at 7:00 p.m. Eastern. That follows a rebound that lifted the Philadelphia Semiconductor Index 2.63% on Tuesday after a sell-off in which chip stocks lost about $3.5 trillion, the subject of yesterday’s report. We track the chip results alongside the crypto tape for that reason.
What to watch next
- Binance’s second snapshot and whether it lists liabilities, more assets and a named verifier.
- The remaining withdrawal networks, especially BNB Smart Chain, Tron and XRP Ledger, where no date has been given.
- Wednesday’s ETF table after the US close: whether outflows reach a fourth session after the overnight midterm volatility covered in today’s main report.
- Friday’s jobs report and the day-7 mark of our exchange-hack study, which we scheduled for 7 November.
Sources: crypto.news (Binance), TechBriefly, crypto.news (ETF flows), CoinDesk, AMD Newsroom, StockTitan, Yahoo Finance, Bitcoin.com News.
Method: bitcoin prices, highs, lows and closes are Coinbase Exchange candles (UTC) and the Coinbase spot ticker pulled by Bitcoin Mastery at about 07:05 UTC on Wednesday 4 November 2026; the 4 November candle is still open at that time, so the latest price is the 77,801.29 ticker and the last completed daily close is Tuesday 3 November (77,336.75). Long-history bitcoin figures are Yahoo Finance BTC-USD daily closes (UTC). Third-party figures are attributed to their source and date. Binance’s statements are as reported by the outlets named; we have not verified any snapshot or on-chain figure ourselves. The Field Guide #71 scoring is provisional and based on press coverage. We could not find a Binance primary source or a fund-by-fund ETF table for 3 November.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Bitcoin and other cryptocurrencies are volatile and you can lose some or all of the money you put in. Nothing here is a recommendation to buy, sell or hold bitcoin, any exchange-traded fund, any listed security or any other asset, and the technical levels, probabilities and scenarios discussed are descriptions of published data, not forecasts. Do your own research and consult a licensed financial advisor before making investment decisions.