09
Dec
Binance was the first large crypto exchange to react to the FTX debacle by hiring an external auditor to prove that the company does not have any solvency issues and that its assets match its liabilities in a way that indicates good business conduct. People who have money with this exchange exhaled after the report of Mazars was partially published. While it is not a 100% indication that the exchange is solvent, it is still a very good sign for the industry. 101% in in-scope assets controlled by Binance The auditors made a snapshot of all reserves available to the…