Binance co-CEO Richard Teng said the exchange has reserved more than $6.34 billion in company funds and is targeting withdrawal resumption before Sunday’s deadline.
Withdrawals and reserves
Teng said $5 billion is already held in the same tokens affected by the incident, with the remaining assets being purchased through market and over-the-counter channels. He said the affected wallet belonged to Binance, customer funds were not used, and most user assets remain in cold wallets.
Binance is rebuilding its withdrawal service and will restore it only after testing. Teng said the exchange hopes users can withdraw within 40 hours. He also said Binance plans to publish a full proof-of-reserves report on Monday and provide preliminary data sooner if possible.
Source: BlockBeats flash and Richard Teng’s X transcript via FxTwitter (original X link), published Oct. 30, 2026.