Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday

Binance said that about 90% of the losses from a $6.3 billion hack are now covered and that it plans to resume withdrawals on Sunday. The transmission channel here is counterparty and liquidity risk: for an exchange, the credibility of its solvency and its ability to honor withdrawals directly determines whether customer capital stays on platform or flows out to rivals, self-custody, or stablecoins. Binance's own token and the exchange-linked trading pairs are the most directly exposed, since any reopening of withdrawals reduces the risk premium tied to frozen balances, while peer centralized exchanges may see volume and deposit shifts depending on how confidence in Binance's coverage holds. Traders should watch whether withdrawals actually resume on schedule and whether on-chain flows show net outflows from Binance-linked wallets over the following days, as that will indicate whether the coverage claim is being trusted by customers.

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