Anyone with coins on a large exchange spent this week asking whether they are still there. By November 3, Binance had answered with a proof covering 10 tokens. Its other tokens wait for a new snapshot on November 4. Its own coin, BNB, still traded near $698, down about 1%. So the crypto update traders need is whether proof alone brings users and their money back.
The proof is changing how traders think about holding coins. Some of that thinking now points to Pepeto, a presale meme coin whose exchange keeps coins in the trader’s own wallet.
Crypto Update: Binance Proof Shows 10 Tokens Backed After October Hack
Binance’s proof shows BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC each backed at least 1:1 at its October 31 snapshot. A second withdrawal phase opened across nine networks on November 3, so funds frozen for days can move again.
That matters because users can check it themselves. A Merkle tree proves each account was counted, and a zk SNARK proves reserves cover what users are owed. It does so without showing anyone’s balance.
Yet a proof shows coins were there on one day, not who controls them the next. The October 29 attack took over $6.3 billion from hot wallets in about 20 minutes. BNB, worth about $92 billion, needs roughly $9 billion to climb 10%. Furthermore, that 10% pays an $800 account and an $8 million one the same.
What this means is that the crypto update from this week is about custody, since a coin held in its owner’s wallet never sits in a hot wallet. Pepeto is building its exchange that way, so no operator ever holds the funds it trades.
Big Investors Test Pepeto’s Exchange While Binance Rebuilds Trust
While Binance rebuilds trust, big investors already have private testing access to Pepeto‘s exchange. This platform is built so no company ever holds a trader’s coins. Behind it is the cofounder who built Pepe.
This week’s problem was a hot wallet that held other people’s coins. On PepetoSwap, a trader signs each swap from a wallet he controls. A private relay shields his orders from front runners by default. The swap fee is 0.00%. So a trader who swaps $1,000 every week keeps the $156 a year that Uniswap’s 0.30% would cost him.
Next to the exchange, a $0 bridge across five chains and an AI scanner with 42 checks are in development. These are open only to private testers for now. SolidProof has reviewed both the code and the team. In addition, a former Binance expert is part of the build.
The presale has taken in more than $11.2 million at stage prices, now $0.0000001905, and every new stage costs more than the last. Its buyers are the people the team built Pepeto for, committed before the exchange opens.
BNB, Binance’s own coin, traded at $6.30 in the March 13, 2020 crash. Then it broke above $700 in June 2024. Pepeto adds meme reach to that exchange coin model, since its cofounder built Pepe, a coin whose early buyers turned small stakes into fortunes.
Conclusion
Binance’s proof shows the largest exchange can rebuild after the October hack, and that supports every coin tied to exchange trading. BNB’s path from here is steady growth on a $92 billion base, the kind of gain large holders plan around.
For readers following this crypto update to find the next coin in that group, Pepeto is the early answer. It brings three tools in development, a meme brand from Pepe’s cofounder and a Binance listing approaching.
Meme reach and real tools from a builder who has done it before rarely arrive in one coin. The wallets inside Pepeto bought for that mix ahead of the listing, and the stage price they paid is still open to the next buyer for now.
Click To Visit Pepeto official Website To Enter The Presale
