BTC withdrawals via the Bitcoin network on Binance have reportedly reopened, marking a concrete step forward for users waiting for the withdrawal service.
On November 1, on-chain analytics platform Lookonchain announced in a post that Binance had resumed BTC withdrawals via the Bitcoin network. The development affects users who want to move their Bitcoin off the exchange through this network.
From a reopening plan to actual withdrawal access
We previously reported Binance’s plan to resume withdrawals. Unlike an announcement of a timeline or preparations, the latest information shows that BTC withdrawals via the Bitcoin network are accessible again.
In an update the previous day, the exchange also said it had secured full reserves for ten assets, including Bitcoin, and covered 90% of the shortfall. Following the work to complete the reserves, this development in withdrawal access is significant for users waiting to move their funds.
The reopening reported by Lookonchain is limited to BTC withdrawals via the Bitcoin network; the post does not mention the status of withdrawals for other tokens and networks.
Not investment advice.