Binance Restarts Withdrawals With Bitcoin, Expanding to 15 Networks

What happened: Binance began restoring withdrawals on November 1 at 06:00 UTC, starting with Bitcoin and expanding to 15 networks, including Ethereum, Solana, Tron and BNB Smart Chain. The exchange said it allocated approximately $6.34 billion of company funds to cover losses, drawing on its corporate treasury, user security fund and futures insurance fund. Reports placed replenishment at approximately 90% to 95%, with the higher figure appearing in a later update, while co-CEO Richard Teng said Binance would absorb the financial impact.

Why it matters: Restored withdrawal access gives customers a practical way to assess whether they can retrieve assets, making it a more concrete recovery milestone than a reimbursement commitment alone. However, the reported replenishment percentages describe different stages of the response and should not be collapsed into a single independently established balance-sheet figure. The next test is whether the pledged coverage translates into sustained access across the reopened networks as customers decide whether to retain funds on the platform.

Sources: CoinDesk; CNBC; Crypto.news.