TREE NEWS update: Binance co-CEO Richard Teng said the exchange is rebuilding withdrawal services and aims to restore them, in phases, before a Nov. 1 deadline, with a full proof-of-reserves report due Nov. 2. Deposits are already back online while withdrawals remain suspended. Binance is auditing terminals, cloud services, key management and transaction signing systems, and plans to publish preliminary data before the full PoR.
Binance Targets Nov 1 Withdrawal Restart, Full PoR Report Nov 2
AI take
The sequencing matters more than the dates: Binance is restoring deposits before withdrawals, and publishing preliminary figures ahead of a full proof-of-reserves report. That leaves a window in which user balances can grow while the exchange's liabilities stay unverified, which is precisely the gap a PoR is meant to close. The audit scope — terminals, cloud services, key management and transaction signing — points to the operational layer rather than a simple balance-sheet shortfall, so the Nov. 2 report is the real test. Whether the phased restart holds to the stated deadline is the open question.
Generated by AI for reference only.
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