Binance has ended another week of FUD (fear, uncertainty, doubt) with another report on its proof-of-reserves. But Mazars, the authors of the previous reserves report, has simultaneously distanced itself from the industry.
The exchange giant reportedly commissioned CryptoQuant to look over its bitcoin reserves, following the Mazars report earlier this month. The analytics provider reported that Binance’s BTC customer deposits are 97% collateralized by the exchange’s assets, which increases to 101% when the BTC loaned out to customers is included.
Source: https://beincrypto.com/binance-gets-another-reserves-report-auditors-ditch-crypto/