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Binance holds over $6.34 billion in company funds to cover hack losses, including $5 billion in affected tokens Binance announced that it has held over $6.34 billion in company funds to cover losses from the hack, including $5 billion already held in affected tokens. It purchases the remaining tokens through market and OTC channels, a process that may take longer due to limited liquidity. The reserved funds are separate from approximately $3 billion in frozen assets. Binance will publicly verify user assets through its Proof of Reserves. - Link.

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Wu Blockchain · Crypto · · Source

Binance holds over $6.34 billion in company funds to cover hack losses, including $5 billion in affected tokens Binance announced that it has held over $6.34 billion in company funds to cover losses from the hack, including $5 billion already held in affected tokens. It purchases the remaining tokens through market and OTC channels, a process that may take longer due to limited liquidity. The reserved funds are separate from approximately $3 billion in frozen assets. Binance will publicly verify user assets through its Proof of Reserves. - Link.

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