On Wednesday, Mazars, a global audit, tax, and advisory firm, confirmed that the most significant crypto asset manager, Binance, has more Bitcoin on hand than is required to cover customer deposits.
The firm’s page providing Binance’s proof-of-reserves and proof-of-liabilities verification read:
The auditor noted that Binance has a 101% collateralization ratio on 575,742 Bitcoin (BTC) net customer deposits as of November 22, 2022. Interestingly, the data matched the one given by Binance in its first proof of reserves report from last month.
Source: Cryptocurrency - investing.com
