withdraw button vs reject all button

The withdraw button goes on a withdraw banner (after having consented), and reject all button goes on the first banner, where you can close the banner and reject all cookies by clicking it.

Did that clear up things?

There are two buttons in order to give the user clearer message;

1. Withdraw - I want to undo my choices and revert whatever cookie settings I opted into.
2. Reject all - when I first see the banner, I want to close the banner without accepting any optional cookies.

Now that you mention it, it makes little sense to have both buttons available at the same time.
The plan was to have a Withdraw button after consent has been given, so we should look into hiding the Reject button if Withdraw is there.

Having a Withdraw button adds some value, as it signals to the user that consent has previously been given and can be revoked.

Also "Withdraw consent" sets the cookie value to NULL, whereas "Reject all" sets the cookie value to 2.
Think of "Withdraw consent" as a reset button. It sets the consent state back to the value it had when the visitor first entered the site.