"Is asset preservation the normalization of withdrawals?"… Bitplanet checks Binance's payment capability

Bitplanet’s research lab published a Nov. 4 report arguing that Binance’s asset-backing disclosures after its Oct. 29 incident do not by themselves prove that customer withdrawals have normalized. The report said the first outflow from a Binance wallet on the XRP Ledger occurred at 20:05 UTC on Oct. 29, and cited Binance’s estimate of roughly $6.3 billion in losses. It assessed Binance’s incident response, public wallets and withdrawal status, concluding that a exchange’s operational capacity to return customer assets under stress matters as much as the size of its holdings. The analysis matters because proof-of-reserves figures alone may overstate exchange health if withdrawal queues or liquidity constraints persist. Next, watch Binance’s disclosed wallet balances and actual withdrawal processing times to see whether asset backing translates into restored payouts.