![]() The error is currently being addressed by the exchange. Binance also acknowledges that it misplaced the collateral for some of its tokens and put it in the same wallet as client cash. Binance Changpeng Zhao is the founder of Binance, the worlds largest crypto exchange by. ![]() Glassnode data from December showed that Binance under-reported its crypto holdings in its PoR. Changpeng Zhao is the chief executive officer of Binance, the worlds largest crypto exchange. Mazars Group published Binance’s proof-of-reserves report in December, however because of heightened scrutiny, the business has ceased providing auditing services to cryptocurrency companies and has since removed the report.īinance’s CEO, Changpeng Zhao, claims crypto audits are difficult. Since the FTX crisis, Binance, the largest cryptocurrency exchange by trading volume, has been under significant community pressure to improve its level of openness. Changpeng Zhao, CEO of the world’s largest crypto. Large auditing firms, however, are only just learning about the cryptocurrency business, while other auditing firms are hesitant to engage with crypto enterprises owing to greater scrutiny from authorities. Binance CEO Changpeng Zhao during a panel session on June 16, 2022. The cryptocurrency trading platform has not yet found a suitable auditing company to do a full audit of its financials. Binance’s CEO has reportedly hired a white-collar defense firm amid increased legal pressures. Bloomberg reported on February 8 that Binance’s Asia-Pacific president Leon Foong said the business needed additional time to provide a thorough audit of its cryptocurrency holdings and liabilities. ![]() When auditing company Mazars stopped doing work for cryptocurrency companies, it also removed Binance’s previous proof-of-reserves report. Binance’s Asia-Pacific president Leon Foong said on Wednesday that the exchange’s complete audit of its cryptocurrency holdings and liabilities would take longer than first anticipated. CEO, Changpeng “CZ” Zhao, claims crypto audits are difficult.įollowing the demise of rival cryptocurrency exchange FTX, there have been demands for more openness, and a comprehensive audit of Binance is still outstanding.Binance’s Asia-Pacific president said the audit would take longer than first anticipated.Posted on Febru(February 9, 2023), 10:17 pm by Abdul 4 months ago | 2 mins read Exchange News
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