These reserves are a sign of the asset backing and strength of Binance. This may offset outflows from exchanges at a time when many fear an FX repeat. Although Binance’s customer token outflows have surpassed $600 million as of Wednesday, it is still significantly lower than the amount of Paxos issued by the New York State Department of Financial Services earlier in the year. In one day, Binance processed more than $2 billion in withdrawals.