Binance Says It Completed Its Latest Proof-of-Reserves Verification

Binance said its latest proof-of-reserves verification is complete, giving users an independent way to check whether assets held by the exchange are backed by reserves. Binance CEO Richard Teng thanked users for their patience during the recovery process. The exchange disclosed that its hot wallets had been compromised on Oct. 29. It began restoring withdrawals in stages on Nov. 1, and all 15 networks in its first batch were online by 7:30 a.m. ET. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.