News - Binance filed a new report on their reserves

By Sam Fröling

Binance filed a new report on their reserves

Following the departure of auditor Mazars, new written evidence about Binance's stock market reserves de beursreserves van Binance should provide more credibility.

According to a recent rapport by the blockchain analysis company CryptoQuant, customer deposits on Binance are 101 percent backed by the exchange. From an onchain perspective, this confirms the findings of auditors Mazars Group, which originally conducted the proof of reserves of the crypto exchange.

Termination of business relationship

Last Friday, however, they ended their business relationship with Binance and other exchanges because of "public perception concerns." This is because proof of reserves only provides information about a company's assets, not its liabilities. An assurance as to whether the exchange can meet its payment obligations has not yet been fully clarified, putting further pressure on Binance. Meanwhile, CryptoQuant concludes in its report that it does not see "similar behavior to FTX" at Binance. This was evident, for example, in the company's stablecoin holdings, which did not stand out even after massive sales.

The analyst firm also introduced the "clean reserve" rate. This would be about 90 percent for Binance. This means the exchange's own BNB token accounts for only 10 percent of total reserves.

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