Binance's Proof of Reserves Audit 'How I Define Red Flag’
John Reed Stark, a former U.S. Securities and Exchange Commission (SEC) regulator, said that Binance’s recent “proof of reserves” report is how he defines a “red flag.”
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John Reed Stark, a former U.S. Securities and Exchange Commission (SEC) regulator, said that Binance’s recent “proof of reserves” report is how he defines a “red flag.”
Attested by Mazars Group, Users Can Verify That Their Crypto Assets Are Fully Backed (1:1) on our Platform
A proof of reserves report published by Mazars reveals that Binance has enough assets to satisfy customer withdrawals.
Leading global cryptocurrency exchange, Bitget, announces today that it is launching its Proof of Reserves Page.
Crypto sector auditor Mazars found that Binance customers’ Bitcoin deposits were 101% backed as of last month.
Proof-of-Reserves systems allow to combine the transparent nature of blockchains with the comfort of using centralized exchanges.
CoinDCX portfolio has SHIB worth over $14 million. It is the third-largest allocation of the portfolio.
Grayscale refused to provide a proof-of-reserve for its Bitcoin citing security risks.
Binance responded, saying that it was a move to a TRX cold wallet.
Huobi and Bybit have publicly provided their proof of reserves to assure investors.