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Binance founder CZ posted that net outflows were 2.1% in the 12 hours after Binance resumed withdrawals, with most occurring in the first few hours

Binance founder Changpeng Zhao (CZ) posted on the X platform on November 1, 2026, that net outflows in the 12 hours after withdrawals resumed were 2.1%, with most occurring in the first few hours. He also said that more than $1 billion flowed in during the same period and said that 98% chose to stay.

CZ wrote in the post that trust is not earned by what you say in good times, but by what you do in bad times, and thanked people for their trust.

The post cited data released earlier that same day by Binance. Binance said it had begun restoring withdrawals in phases starting at 06:00 UTC on November 1, 2026, and that by 12:36 UTC, the initial stage had seen recovery of all 15 networks and assets. Between 06:00 and 15:30 UTC, $4.649 billion in withdrawals and $1.01 billion in deposits were processed, resulting in net outflows of about $3.64 billion. The figure was equivalent to 2.1% of the total assets under management (AUM) of $171 billion, based on the latest available proof of reserves (PoR) data as of October 28, 2026.

Original sources:

  1. Title: 12 hours after withdrawals resumed: 2.1% net outflow... Publisher: CZ 🔶 BNB (@cz_binance) Publication date: 2026-11-01 URL: https://x.com/cz_binance/status/2116954044988354798 Source nature: direct post by the party involved Verification status: This reading examined the full original post and the quoted post, verification date 2026-11-01 Supporting content: CZ said that net outflows were 2.1% in the 12 hours after withdrawals resumed, with most occurring in the first few hours, that more than $1 billion flowed in during the same period, and that 98% chose to stay

  2. Title: Binance began restoring withdrawals in phases at 06:00 UTC on November 1, 2026... Publisher: Binance (@binance) Publication date: 2026-11-01 URL: https://x.com/binance/status/2116926305254133892 Source nature: official company announcement Verification status: This reading examined the full original post, verification date 2026-11-01 Supporting content: Between 06:00 and 15:30 UTC, $4.649 billion in withdrawals and $1.01 billion in deposits were processed, with net outflows of about $3.64 billion, equivalent to 2.1% of $171 billion in AUM (based on October 28 PoR data)

ABAB AI Insight

Changpeng Zhao (CZ) is the founder of Binance and has stepped down as CEO, but he continues to speak publicly about platform operations and user trust. This post came against the backdrop of Binance resuming withdrawals in phases on November 1 after suspending them following a large-scale theft incident, which the FBI attributed to North Korea-related activity. The $4.649 billion in withdrawals and $1.01 billion in deposits in Binance’s official announcement formed the basis for the 2.1% net outflow ratio cited by CZ; the ratio uses $171 billion in AUM from the October 28 PoR data as the denominator.

CZ’s statement that 98% chose to stay is a broad characterization of the scale of net outflows, rather than an audited result of independent user retention. Net outflows of about $3.64 billion, or 2.1% of AUM, mean that the vast majority of assets remained on the platform, but the figure covers only the networks and assets restored in the initial stage, while later networks and assets were still under testing. Binance also said that a new PoR snapshot was obtained at 00:00 UTC on October 31, that zero-knowledge proof calculations had begun, and that an updated report was expected the next day.

Compared with the panic withdrawals often seen when exchanges have faced large asset outflows before, the pattern of concentrated outflows at the start and then stabilization was used by CZ to emphasize the role of actions in adversity in building trust. This interpretation is the party’s qualitative reading of its own data; actual long-term retention and market confidence still depend on the progress of subsequent phase restorations, updated PoR data, and the outcome of follow-up handling of the theft incident.

ABAB News · Cognitive Law

  1. Expressing net outflows as a percentage of AUM converts the absolute amount into a relative scale, but the denominator methodology and coverage stage determine the comparability of that ratio.

  2. The party’s summary that users chose to stay is an interpretation based on net outflow data, not an independently statistical user retention rate.