Binance deposits overtake withdrawals, and the SEC creates crypto FAQs on governance

What happened: Scott Melker said deposits on Binance are now outpacing withdrawals after a record hack, and the SEC created 3 guides on crypto governance and token status. North Korea denied any role in the attack after the FBI pointed to it. Key numbers: About 10.97 billion in withdrawals over 46 hours, 5.7 billion in deposits in that window, and a cumulative net outflow of roughly Why it matters: Melker said the shift to net deposits may mean the worst of the outflow is over. He also noted Binance's SAFU fund is below its disclosed ideal level with no announced replenishment plan yet. Market: +0.8% today ($248.68), +9.8% YTD, 0.3x vol — as of 17:48 UTC

Scott Melker said deposits on Binance are now outpacing withdrawals after a record hack, and the SEC created 3 guides on crypto governance and token status. North Korea denied any role in the attack after the FBI pointed to it.

Melker said the shift to net deposits may mean the worst of the outflow is over. He also noted Binance's SAFU fund is below its disclosed ideal level with no announced replenishment plan yet. Market: +0.8% today ($248.68), +9.8% YTD, 0.3x vol — as of 17:48 UTC