Binance USDT reserves drop 7.95% as report narrows to 10 assets

Binance has reported a 7.95% decline in user USDT holdings in its October 31 proof-of-reserves snapshot, as the cryptocurrency exchange continues restoring services following its $6.3 billion security breach. Summary Binance’s October 31 proof-of-reserves snapshot shows USDT user holdings fell 7.95% to 29.48 billion tokens. Ethereum holdings declined 3.80%, while Bitcoin balances increased 0.52% to 692,187 BTC. The latest report covers 10 major assets, compared with 55 assets in the October 1 snapshot. Binance reported $3.64 billion in net withdrawals during the first nine and a half hours after reopening. The exchange expects its complete zero-knowledge reserve proof to become available on November 3. According to Binance’s proof-of-reserves page, USDT balances fell by 2,544,682,319 tokens to 29,483,062,742 USDT. Ethereum and BNB holdings declined during the same reporting period, while Bitcoin balances recorded a modest increase. The report was captured on October 31, before Binance began reopening withdrawals on November 1. Its publication follows concerns over the exchange’s asset coverage and the movement of customer funds. Binance USDT balances decline as Bitcoin holdings ris...