Two cryptocurrency exchanges prove ready this week provided to emphasize that the trading platform supports client assets one-to-one. Binance published a report on December 7, 2022, detailing that the audit was conducted by global auditor Mazars Group. On December 9, 2022, the Crypto.com exchange published the proof of booking record, which was also verified by his Mazars.
Binance and Crypto.com Reveal POR Audits
I submitted a Proof of Reserve (POR) document. Big mistake. Binance, the world’s largest cryptocurrency exchange in terms of trading volume, offers a comprehensive portfolio of,BTCBTC,BTCB and BBTC hosted on the Mothers Group website. , and revealed that it shows assets held in Bitcoin. , Ethereum,BNB, and the Binance Smart Chain Network.
An audit by Mazars took place on November 22, 2022 at a Bitcoin block height of 764,327, and according to the report, the assets are 101% backed by secured reserves. “At the time of the evaluation, Mazars confirmed that assets within the scope of Binance management exceeded 100% of the platform’s total liabilities,” the Mazars report claims. “The collateralization rate takes into account the margin collateralized by the out-of-range assets and the in-range assets lent out through the loan service offering. The Merkle Root hashes all client accounts into one output. It was compiled by,” added Mazars’ audit.
Mothers’ audit of Binance further points out that “total debt” was accounted for in the proof. At the end of November 2022, after Binance provided his POR address, Kraken’s Jesse Powellcriticized the evidence, stating that “a statement of assets is meaningless without liabilities.” I was. Powell also shared his 2 cents on the latest audit from Binance,and again on December 8th,blaming his POR on Binance. Trading platform Crypto.com also issued a press releaseannouncement regarding his POR audit conducted by Mazars. “As of 00:00:00 UTC on December 7, 2022, Mazars Group has determined that assets held at [on-chain] addresses certified to be controlled by Crypto.com and that auditors We compared customer balances through live queries of production databases that we oversee,” the company said.
Crypto.com detailed that existing customers will be able to verify their assets on the platform. A full audit of Crypto.com conducted by Mazars can be viewedhere. “Our report provides Crypto.com customers with additional transparency and reassurance that the subject asset is fully reserved, resides on the blockchain and is under the control of Crypto.com in the report below. It is intended solely to provide a sense of the date”, Mazars Audit Details.
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