Since Binance gradually reopened withdrawals on November 1st, we've seen a surge in withdrawals. According to on-chain data, the BTC balance dropped from 732,000 to 711,000; a total of 21,064 BTC were withdrawn. While the amount isn't small, it's relatively minor compared to the total balance (less than 3%). I believe Binance can withstand this impact. Yesterday, a friend called to ask if he should transfer his BTC from Binance to another platform, like his nearly worn-out hardware wallet… I said: "You're kidding yourself. With your limited technical knowledge, putting so many coins in a wallet? General Kim would highly praise you and grant you a Pyongyang residency permit." Actually, I'm not against self-custody, but for tech novices like my friend, the probability of losing or having their coins stolen in a wallet is far greater than the probability of Binance being hacked again and not offering compensation. Of course, from a risk-sharing perspective, placing some assets on multiple exchanges is a relatively reasonable option. However, there's no 100% guarantee that other exchanges won't be hacked in the future, or that they will provide full compensation in the event of an incident. After all, in terms of solvency, even Binance currently has $139.7 billion in on-chain assets, with BTC and USDT accounting for nearly 60%, BNB 18%, and ETH 6%. Objectively speaking, no other cryptocurrency exchange in the world today can match Binance's scale. Binance remains in a league of its own.