Binance Says It Covered Assets Hit by Breach and Publishes Reserve Snapshot

Binance says it has finished covering assets affected by its security breach and has published a new proof-of-reserves snapshot covering 198 tokens. The exchange said it committed more than $6.34 billion of company funds. It sourced affected tokens through market and over-the-counter transactions, drawing on its corporate treasury, part of the Secure Asset Fund for Users (SAFU), and part of its futures insurance fund above its required level. Binance said it plans to restore SAFU to about $1 billion. The reserve snapshot reflects balances as of 00:00 UTC on November 12.