Binance Prints $3.64B Phase-One Net Outflows as Withdrawals Stabilize
By Crypto Wire
November 1, 2026
Binance says its phase-one withdrawal reopen printed about $3.64 billion in net outflows on November 1, after processing $4.649 billion in withdrawals against $1.01 billion in deposits between 06:00 and 15:30 UTC. The exchange’s official X update, posted at 16:12 UTC, frames that net as roughly 2.1% of a $171 billion assets-under-management base drawn from October 28 Proof of Reserves data — and says withdrawal volumes declined and are “stabilising as expected” after an initial spike while deposits stayed substantial. That residual-nets print is the new settlement primary beyond this desk’s phase-one ZEC and TON USDT/GRAM rails chapter (11875) — not another mid-mint climb without a dated exchange flow receipt.
How the reopen clock reads without inventing a full platform unlock. Binance says phased restoration began at 06:00 UTC and that by 12:36 UTC withdrawals had resumed for all 15 networks and assets in the initial phase — the window that already cleared native Bitcoin, Ethereum/BSC, XRP/DOGE/L2, Solana/Polygon/Avalanche/Sui, and ZEC plus TON-network USDT/GRAM paths in earlier Latest News beats. The same update says remaining networks and assets are still under rigorous testing, with next-phase details to follow; it does not name the next corridor list or a hard reopen date for the residual book.
What competing tape printers still disagree on. Some dashboards and secondary wraps floated higher net-outflow readings near $5.8 billion over a looser 24-hour window after reopen. A Binance spokesperson, quoted in Reuters coverage, said those DefiLlama-style prints omit flows deposited into Binance’s own new hot wallet and are “not accurate,” pointing desks back to the exchange’s X totals as closest to the official count outstanding later moves. Prefer Binance’s dated $4.649 billion / $1.01 billion / $3.64 billion triad and the Reuters attribution over screenshots that treat a third-party dashboard as the exchange’s own residual-nets disclosure.
Coverage and Proof of Reserves context that still matter for NFT and crypto settlement desks. Binance has said it covered about 95% of the impacted amount from the roughly $6.3 billion security incident, up from an earlier 90% print, with the remaining 5% described as less-liquid tokens that take longer to source. A new Proof of Reserves snapshot was taken at 00:00 UTC on October 31, with zero-knowledge proof computation underway and an updated PoR report expected on the exchange’s PoR site for Monday, November 2. Until that report lands, the 2.1% residual share still references the October 28 AUM base.
What this piece will not invent: a completed next-phase rail list, a finished technical post-mortem, a guarantee that every residual token is already 100% covered, or a claim that DefiLlama’s higher print overrides Binance’s own X triad. Prefer the exchange’s November 1 flow update, the Reuters spokesperson clarification on wallet-deposit double-counting, and Binance’s PoR timing language over aggregator copy that treats reopen day one as a finished trust event. Leave Initia’s Monday ready-for-use note and Soneium’s Nov. 2 IP Vault settlement to their own desks unless a new primary lands.
Why NFT desks still watch exchange residual nets after a phase-one reopen. Collectors who settle ETH, SOL, and stablecoin bids through CEX corridors need a dated print of how much left versus how much returned when rails flick back on — especially after a multi-billion incident and FBI North Korea attribution already on the record. A stabilizing withdrawal chart with still-substantial deposits is a measurable confidence read; it is not a promise that every suspended network outside the first 15 is already safe to size into.
Settlement watch: Track whether Binance’s Monday Proof of Reserves page update lands with the promised zk-backed report, whether a dated next-phase network list clears more residual rails, and whether a later official net-flow refresh still shows withdrawals stabilizing without a second spike that overturns the $3.64 billion day-one print.
Bottom line: Binance’s phase-one reopen day printed about $3.64 billion in net outflows ($4.649 billion out / $1.01 billion in) — roughly 2.1% of a $171 billion October 28 AUM base — as withdrawals stabilized after the morning spike and a Monday PoR update remains the next settlement beat.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
