Update on the Binance exploit and RSR: Binance confirmed the attacker drained one of its hot wallets and that it will cover all losses with company funds, including the stolen RSR. We've been in direct contact with Binance's team since our last update, and they've moved quickly and responsibly, confirming that they will be re-purchasing the missing 3.38B RSR promptly. New from Binance co-CEO @_RichardTeng's video update: • Binance has set aside over $6.34B of company funds to cover the stolen assets. About $5B of that is already held in the exact tokens affected (he named USDC, USDT, BTC, ETH and BNB). • It's buying the remaining assets through market and OTC channels. Because the Reserve treasury does not have an appetite to reduce its RSR position, in the case of RSR we believe Binance will acquire on the open market through a professional market maker. • Binance withdrawals are paused while the team rebuilds and retests its withdrawal system. It hopes to reopen them before Sunday. Until then, RSR on Binance can't be withdrawn. • A full proof-of-reserves report has been promised by Monday. That's where you'll be able to check that RSR balances are fully backed. We infer from this that the RSR re-purchase will be completed by Monday. • Binance is working with law enforcement, blockchain analytics firms, token issuers and other exchanges to trace and recover the stolen funds. On Reserve's side, nothing has changed since our last update. We'll keep monitoring and share more as Binance does.