Binance has commissioned CryptoQuant to issue a Bitcoin reserve proof report

ChainCatcher news, Binance has commissioned CryptoQuant to issue a Bitcoin reserve proof report. According to the report released by CryptoQuant, 97% of Binance's Bitcoin customer deposits are backed by the exchange's assets; if we include the Bitcoin lent to customers, this ratio will rise to 101%.

Unlike FTX, Binance's BNB does not constitute a high proportion of its reserves. CryptoQuant stated that Binance does not face reserve issues similar to those of FTX, and independent verification helps ensure that financial institutions have the resources to fulfill their obligations and are not at risk of insolvency. (source link)