Richard Teng

“The difference is verification, not just promises.”

That’s what I told @CNBC today, speaking on the security incident and the steps we’ve taken since 29 October to ensure our users are protected.

We’re now 98% replenished. We’ve completed the latest Proof of Reserves verification, giving users another way to independently check that their assets are backed. That’s why we have Proof of Reserves: accountability.

While Binance is at the centre of this story, this is an industry-wide problem. We must keep working together to safeguard customers and strengthen our industry.

Our next priority is to reopen withdrawals for HYPE, INJ, APT, PLASMA, NEAR, and LTC by the end of next week, alongside all tokens on networks already restored.

Thank you for your continued patience.

Our latest PoR ZKProof is ready, allowing you to independently verify that your Binance balances are backed at least 1:1.

Because what matters most is being able to verify it yourself.

Our latest Proof of Reserves snapshot now covers 44 tokens, up from 10, expanding the range of assets users can independently verify are backed at least 1:1.

Generating the full zero-knowledge proof takes 50–60 hours of computation. That’s a long wait, but it serves an important purpose: letting users verify the backing of their own balances, rather than simply taking our word for it.

On recovery, we’re now at ~98% of impacted assets replenished. We’ll continue buying the remaining, less liquid tokens carefully through market and OTC channels to avoid moving prices as we close the gap.

There’s still work ahead: fully reopening withdrawals and strengthening safeguards. I’ll keep sharing progress as we go.

After some audio issues, I'm joining CNBC again shortly.