Binance sets aside $6.34B of corporate funds to cover losses, begins restoring user assets
- —Binance's loss reserve exceeds $6.34 billion of corporate funds
- —$5 billion of the reserve is already held in the affected tokens
- —The remainder is being bought on-market and via OTC, which may take time
- —About $3 billion has been frozen, separate from the reserve
Why it matters: The exchange confirms it is covering losses with its own funds rather than customer assets, easing the risk of a broader run.
Source: PANews