Binance Update: Waiting on a Zero-Knowledge Proof

You can check your own box. Just not yet. A few days ago, I wrote Life Imitates Art: The $6.3 Billion Binance Hack and ended it with “I wonder what is going to happen next week.” It’s Monday morning in New Zealand, and a bunch has already happened. Binance said it would reopen withdrawals in phases on Sunday, and it did. Bitcoin went first, between 06:00 and 09:00 UTC, followed by 14 other networks, including Ethereum, Solana, and the big stablecoins. CZ’s announcement was four words: “BTC withdrawal is live.” Customers then did what customers do. By Sunday afternoon, Binance had processed $4.6 billion in withdrawals and $1 billion in deposits, a net outflow of about $3.6 billion, or 2.1% of its $171 billion in assets. (Last week, CNBC said $145 billion. I’ve stopped trying to reconcile crypto numbers.) Binance says the flows are “stabilising.” In chapter 54 of Zero Knowledge, a credit union IT person spends a Friday calling 63 banks trying to get 412 paychecks accepted. By…