Markets · Security
Binance lets users withdraw U.S. dollars again, plus four more currencies
Binance says customers can again take out dollars, dirhams, dong, pesos and rupiah, joining 23 currencies already open. Its new reserves proof covers 10 tokens, and it says it has covered 'approximately 95%' of the impacted amount.
Binance lets users withdraw U.S. dollars again, plus four more currencies
Updated Nov. 2, 8:26 a.m. ET: adds Binance's Recovery Update #5 on its reserve proof.
Binance customers can once again move U.S. dollars off the exchange, the company says. In a post on X at 3:00 a.m. EST Monday, Binance said withdrawals in ordinary government money, which it calls fiat, "are now available" for dollars and four other currencies. That widens a reopening that began on Sunday with crypto, after an attack on the exchange. Binance said late on Oct. 31 that it had "already covered $6B of the impacted amount of the hacked loss" [5][1].
For many users that is the step that matters. Moving coins to another wallet is one thing. Being able to cash out to a bank account in your own currency is what most people mean by getting their money back.
The mechanism
The post is short. Under the heading "New" it lists five currencies: "USD," "AED," "VND," "PHP" and "IDR." Those are the U.S. dollar, the United Arab Emirates dirham, the Vietnamese dong, the Philippine peso and the Indonesian rupiah. Under "Current" it lists 23 more that were already available: "JPY, VES, BRL, MXN, ARS, BHD, KZT, EUR, CHF, CZK, HUF, KWD, PLN, RON, SEK, CDF, KES, SLE, UGX, XAF, XOF, ZMW, and KGS." It ends: "We will continue to share further updates through official Binance channels" [1].
| Binance's label | Currencies, as listed | Count |
|---|---|---|
| New | USD, AED, VND, PHP, IDR | 5 |
| Current | JPY, VES, BRL, MXN, ARS, BHD, KZT, EUR, CHF, CZK, HUF, KWD, PLN, RON, SEK, CDF, KES, SLE, UGX, XAF, XOF, ZMW, KGS | 23 |
| Total | 28 |
Source: @binance, 3:00 a.m. EST Nov. 2 [1]. Counts and total are Le Coin's.
The list is the whole of what Binance said. The post does not give a time for each currency, any limits or fees, or when the 23 "current" currencies came back. We have not filled those gaps.
The evidence
The fiat step follows the crypto reopening Binance described on Sunday. "Binance began restoring withdrawals in phases at 06:00 UTC on November 1, 2026," it said, which was 1 a.m. EST. "By 12:36 UTC," or 7:36 a.m. EST, "withdrawals had resumed for all 15 networks and assets in the initial phase" [2].
Binance also published its own count of money moving in and out. "Between 06:00 and 15:30 UTC on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion," it said. "This represents 2.1% of our $171 billion in total assets under management (AUM), based on the latest available Proof of Reserves (PoR) data as of October 28, 2026" [2]. By Le Coin's arithmetic the net is $3.639 billion, and that is 2.13% of $171 billion, so Binance's rounding holds.
Binance described the pace as easing. "After an initial spike, withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial," it said on Sunday, adding: "Rest assured that market conditions are stable" [2]. Those are the company's characterizations; it has not published hour-by-hour flows that would let readers check the shape of the curve themselves.
| Step, per Binance | Time (EST) | Figure |
|---|---|---|
| Crypto withdrawals begin to reopen | 1:00 a.m. Nov. 1 | — |
| All first-phase networks back | 7:36 a.m. Nov. 1 | 15 |
| Withdrawals processed, 1:00–10:30 a.m. | Nov. 1 | $4.649B |
| Deposits processed, same window | Nov. 1 | $1.01B |
| Net outflow, Binance's figure | Nov. 1 | ~$3.64B |
| Fiat withdrawals listed as available | 3:00 a.m. Nov. 2 | 28 |
Sources: @binance, 11:12 a.m. EST Nov. 1 [2], and 3:00 a.m. EST Nov. 2 [1]. UTC converted to EST by Le Coin; fiat count is Le Coin's.
CoinGecko put BNB, Binance's own token, at $702.79 at 8:21 a.m. EST, down 1.58% over 24 hours, and bitcoin at $77,545, down 0.49% [4]. We draw no link between the reopening and either price.
The objection
The obvious question is whether Binance has the money to meet every request, and on Monday Binance published a partial answer. On Sunday it had said: "A new PoR snapshot was taken at 00:00 UTC on October 31, and zero-knowledge proof (ZKP) computation began. The updated report is expected to be available on our PoR website tomorrow" [2]. Proof of Reserves is Binance's published check that customer balances are matched by assets it holds, and the zero-knowledge proof is a way of showing that without revealing any individual account. At 7:45 a.m. EST Monday, in Recovery Update #5, it said: "The full zero-knowledge proof for this latest PoR snapshot has been completed within our estimated timeframe." It said "Binance users holding any of these ten tokens can independently verify that their balances on Binance are backed at a minimum of 1:1," naming "BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC" [3]. The update gives no reserve dollar totals and no separate ratio for each token; it says the ten are "fully backed at 100%" and verifiable "at a minimum of 1:1" [3].
The rest of the hole is smaller but open. Repeating a figure it first gave in Recovery Update #4, Binance says it "has covered approximately 95% of the impacted amount." "The outstanding 5% consists of tokens not included in the top ten listed above. These assets are less liquid, and take longer to source at the required scale." Binance said it plans "to take another snapshot with coverage for more tokens on 2026-11-04," with a new proof it estimates "will take approximately 40 to 50 hours to complete" [3].
There is a second limit. The fiat post lists currencies, not volumes. It says nothing about how much money has left in dollars or any other currency, so Sunday's crypto figures remain the only flows Binance has disclosed [2]. And the crypto side is not finished either. On Sunday Binance said its "team continues testing rigorously the remaining networks and assets" and would "share details of the next phase as soon as we can" [2]. Monday's update, dated Nov. 2, says only that "the next phase is planned for tomorrow — this will be a progressive rollout and we will share the details once ready" [3]. Binance did not give a date or time for that phase.
The tell (Le Coin's view)
In Le Coin's view, the tell is the Nov. 4 snapshot. Monday's proof shows the ten tokens it names backed at least one-for-one, but without dollar totals it cannot be set against the $171 billion figure from Oct. 28. The next snapshot is meant to cover more tokens, including the less liquid ones Binance says make up the last 5%. Whether that proof lands, and whether it covers those tokens, is the test of the company's promise that it "will absorb the financial impact of the stolen funds, not our users" [3].
Stop
Binance says customers can withdraw U.S. dollars, dirhams, dong, pesos and rupiah again, on top of 23 currencies already open. Its crypto withdrawals came back on Sunday. Its Oct. 31 reserves proof is complete for 10 tokens, with no dollar totals, and it says the next snapshot is due Nov. 4. More detail on Sunday's reopening is in our earlier piece, Binance reopens withdrawals in phases.
Sources
- [1] @binance, "Fiat Withdrawal Update," https://x.com/binance/status/2117164969582330063, 3:00 a.m. EST Nov. 2, 2026.
- [2] @binance, withdrawal update, https://x.com/binance/status/2116926305254133892, 11:12 a.m. EST Nov. 1, 2026.
- [3] Binance, "Security Incident | Recovery Update #5: October 31st PoR Snapshot Now Fully Verifiable by Users as ZK Proof Generated (2026-11-02)," https://www.binance.com/en/support/announcement/detail/185bd9a4717f44088b3be70287b8237f, 7:45 a.m. EST Nov. 2, 2026.
- [4] CoinGecko, https://www.coingecko.com/, BTC and BNB accessed 8:21 a.m. EST Nov. 2.
- [5] @binance, post on X, https://x.com/binance/status/2116728061765034338, 11:04 p.m. EDT Oct. 31, 2026.
Holding the Corner.
Not financial advice.