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Cryptoknowmics 2022-12-08 06:59:32

Binance’s Bitcoin Reserves Are Overcollateralized: Report

The largest cryptocurrency exchange in the world by trading volume, Binance, revealed on Wednesday that its client bitcoin (BTC) reserves are overcollateralized in a new study from the international financial audit, tax, and advisory company Mazars. Binance Overcollateralized Reserves In a statement, Mazars stated that at the time of the evaluation Binance controlled in-scope assets that exceeded 100% of their total network liabilities. The precise proportion was 101%. Rivals are hurrying to increase the transparency of their cash reserves in response to the demise of the controlled cryptocurrency exchange FTX due to liquidity problems. Customers were to be reassured by The post Binance’s Bitcoin Reserves Are Overcollateralized: Report appeared first on Cryptoknowmics-Crypto News and Media Platform .

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