Cryptoquant confirmed the results of the audit of the reserves of Binance – Bits Media

The analytical platform Cryptoquant conducted an analysis of the reporters of Mazars about the reserves of the cryptocurrency exchange of Binance and confirmed its relevance.

In early December, Binance entered into an agreement on cooperation with Mazars for an independent audit of the new reporting system about Proof-of-reserve reserves (By). The auditor checked all the public information about the stock of bitcoins of the crypto -tank and confirmed the November data of Binance about more than 100% ratio of exchange reserves in bitcoins to customer assets.

Against the background of market events, FTX cryptocurrency platform, The report of the Mazars audit company on the reserves of Binance was perceived by participants in the crypto community ambiguously.

According to the former head of the Office for ensuring compliance with rights on the Internet, John Read Stark (John Reed Stark), The report presents only quantitative data, The effectiveness of internal financial control Binance is not reflected, And also there is no audit report, that the evidence received is "sufficient and appropriate".

A number of cryptoquartics doubted the qualifications of Mazars employees and wondered, why such a "complex and highly -capitalized company, Like Binance ", I chose Mazars, And not one of the respected audit firms "Big Four".

In contrast to critics, Cryptoquant's blockchain analytics supplier supported the conclusions of the audit company Mazars, stated, that obligations, About which Binance reports, very close to his assessment in 99%. Cryptoquant clarified, that the reserves of ETH and BINANCE Steabelcoins “are currently not demonstrating behavior, Similar FTX ".

Earlier, Nansen analysts reported, that over the past few days with Binance have been withdrawn about $3 billion. Users activity is associated with investors' uncertainty about FTX bankruptcy and “temporary suspension” of Binance Removing funds in USDC stabilcoins.