First Day After Binance's Largest-Ever Hack: $3.6 Billion in On-Chain Outflows, $600 Million in Bitcoin ETF Outflows

Binance processed $4.649 billion in withdrawals against $1.01 billion in deposits in the 10 hours after resuming withdrawals on Nov. 1, a net outflow of roughly $3.64 billion, or 2.1% of its $171 billion in total assets, following the exchange's largest-ever hack. The same day, US spot bitcoin ETFs posted $643.2 million in net outflows—the largest single-day outflow in October—erasing four days of $441 million in inflows and leaving the week down about $202 million, while ether ETFs shed $155.7 million and Solana ETFs $10.8 million. Binance says it has covered 95% of the stolen assets and that withdrawals have stabilized, though the exchange's Oct. 31 proof-of-reserves snapshot predates the bulk of the outflows. Bitcoin fell about 4% to roughly $76,400 on Friday, liquidating over $1.3 billion in leveraged positions, before stabilizing near $77,520, with total crypto market cap holding around $2.7 trillion. Prediction markets have turned bearish, pricing the odds of ether hitting $3,000 before $1,500 at 48.7%, down from 61.3% a week earlier. Watch for Binance's updated proof-of-reserves due end of November and whether ETF outflows persist beyond a single-day panic reaction.