Although fully collateralized, the findings of the AUP were limited to that of BTC and WBTC.
on Dec. 7, South-African auditor Mazars confirmed that cryptocurrency exchange Binance possessed control over 575,742.42 of customers' Bitcoins worth $9.7 billion at the time of publication. Through the process, Mazars stated that"Binance was 101% collateralized."
As part of its proof-of-reserves pledge, Binance requested an agreed-upon-procedures , or an audit that is limited in scale, as of Nov. 22. Commenting on the results, Mazars wrote that:
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