Mazars says users’ BTC reserves on Binance are fully collateralized By Cointelegraph
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According to a new document published on Dec. 7, South-African auditor Mazars confirmed that cryptocurrency exchange Binance possessed control over 575,742.42 of customers’ Bitcoins (BTC) worth $9.7 billion at the time of publication. Through the process, Mazars stated that “Binance was 101% collateralized.”
The scope of the inquiry included customers’ spot, options, margin, futures, funding, loan, and earn accounts for and wrapped Bitcoin (WBTC). Aside from the Bitcoin network, BTC wrapped on , BNB Chain, and Binance Smart Chain were also included in the inquiry.
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According to a new document published on Dec. 7, South-African auditor Mazars confirmed that cryptocurrency exchange Binance possessed control over 575,742.42 of customers’ Bitcoins (BTC) worth $9.7 billion at the time of publication. Through the process, Mazars stated that “Binance was 101% collateralized.”
The scope of the inquiry included customers’ spot, options, margin, futures, funding, loan, and earn accounts for and wrapped Bitcoin (WBTC). Aside from the Bitcoin network, BTC wrapped on , BNB Chain, and Binance Smart Chain were also included in the inquiry.
Continue Reading on Coin Telegraph
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