Financial establishments that take shopper deposits have a robust incentive to keep low reserves and make investments as much deposit cash as attainable. The decrease the reserves, the higher the prospect of insolvency if one thing goes flawed.
US banks and comparable institutions must undergo unbiased audits of, among other things, their reserve levels. We don't take their phrase for it.
Is this additionally true of Binance? Is there a periodic unbiased audit of their reserves and different positions?
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