Two very large crypto exchanges have filed proof-of-reserve documents this week after FTX Vyas, in which Binance, the world’s largest crypto exchange in terms of trading volume, has announced BTC, BTCB hosted on the Mazars Group website. , and a comprehensive look at assets like BBTC when he casts and shows assets on networks like bitcoin, ethereum, bnb and binance where we can say that audit by Mazars bitcoin block height on Nov 22, 2022 at 764,327 was concluded and reports or claims that 101% of the reserves from which it is concluded go to support the property. And lastly, the report also claims that at the time of valuation, when it was observed by Mazars that assets controlled by Binance accounted for more than 100% of the total platform liabilities, the assets lent through margin and principal back To keep in mind through these scope properties the merkle root is supposed to present all client accounts as a single output foot called mazar audit. While Mazars’ audit on Binance further stated that the verification by assets of total liabilities was reported despite the PoR letter being provided, Jesse Powell of Kraken strongly criticized the evidence, saying that assets without liabilities The description of is downright unfair and pointless where as also shared his two cents about the latest audit of Binance and again on December 8th the Binance POR was criticized.
Binance released the PoR audit after a thorough review by Mazars Group. The crypto trading platform held a press release regarding its audit and stated that it “Mazars Group has verified the database as of December 7, 2022, 00:00:00 UTC”. being controlled by comparing assets held on customers’ onchain addresses through auditor supervisor live queries produced in and of course the company says existing customers can verify their assets and wallets completed by Mazars here While the report aims to provide immense transparency and assurance to customers that it exists on the blockchain and is fully reserved and under control in the reporting below.
