Blockchain analytics provider CryptoQuant has released a report analyzing the recently published audit of the world's largest cryptocurrency exchange Binance's proof of reserves.
Centralized exchanges have been in the spotlight over the past month following the collapse of FTX, none more so than Binance, which has been struggling to assure customers and investors that it has sufficient reserves and is fully backed.
The report did not address the effectiveness of internal financial controls, according to the former head of the Securities and Exchange Commission's Office of Internet Enforcement, John Reed Stark
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