Binance Co-CEO: Binance’s current financial position is “very solid”

On Tuesday, during the Hong Kong FinTech Week, Binance Co-CEO Richard Teng revealed that the platform’s current financial position is “very solid”; hourly inflows and outflows have largely returned to normal levels; 95% of the previously affected tokens have been fully replenished, with the remaining 5% primarily involving low-liquidity tokens—Binance is working alongside OTC service providers to restore those assets. Teng emphasized that all losses from this incident are fully covered by Binance’s Secure Asset Fund for Users (SAFU) and other internal reserves, ensuring full protection of user funds. As of Monday, Binance’s net customer outflows totaled approximately $4.72 billion—about 3% of the platform’s total assets—with USDT accounting for the largest share. He admitted: “This has been a painful lesson—we take full responsibility and will emerge stronger because of it.” Additionally, the U.S. Federal Bureau of Investigation (FBI) previously attributed the attack to North Korea.