He Yi: Binance hopes the four major firms are willing to audit crypto assets, and the $1 billion "recovery plan" is advancing two transactions

2023-01-10 14:56:23

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ChainCatcher news, He Yi, co-founder and CMO of Binance, and head of Binance Labs, stated during an online discussion at the "POW'ER 2023 Hong Kong Web3 Innovators Summit" that Binance will publicly prove the reserves of most of its coins in the future. "The asset reserve audit for crypto is not the same as the financial audit for listed companies; the financial audit for listed companies is a different concept. Currently, only Coinbase, as a listed company, has conducted a financial audit. The Big Four accounting firms are not very proactive in conducting audits for crypto assets, and Binance hopes there will be auditing firms willing to perform audits."

In addition, He Yi mentioned that Binance's $1 billion "Recovery Plan" is not a charity program and needs to return to business. The plan is advancing two relatively large transactions involving two trading platforms. (Source link)

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