Binance says big auditors not ready for it yet

דורך CryptoDaily - 1 יאָר צוריק - לייענען צייט: 2 מינוט
מיטוואך 8 פעברואר 2023 9:41

Binance says big auditors not ready for it yet

Binance declares that the big auditors still have a lot to learn about the crypto industry and so a full audit probably won’t take place soon.

Binance has suffered much FUD in recent times, and those looking to see the biggest crypto exchange by volume fail have heaped plenty of criticism and doubts upon how it operates.

Kevin O’Leary, big businessman entrepreneur, and paid as a spokesman by Sam Bankman-Fried of FTX infamy, was recently interviewed by Scott Melker on the Wolf of All Streets YouTube channel, and he took every chance to smear “unregulated exchanges” and their “faux equity” tokens - mentioning Binance on a few occasions as being one of the main culprits.

Leon Foong, head of Binance Asia-Pacific was quoted by Bloomberg as saying that there weren’t agreed standards for price volatility for example. He stated:

“עס וועט נעמען אַ לענגערע צייט. עס ווייזט איר די לימיטיישאַנז פון די מער טראדיציאנעלן ינדאַסטריז ווייַל עס איז אַ לערנען ויסבייג. נומער איין, דאָס איז נישט זייער האַרץ קאַמפּאַטינס. און נומער צוויי, דאָך עס איז אַ פּלאַץ פון דורכקוק אויב זיי באַקומען עס פאַלש.

However, the Bloomberg article does cite the Coinbase annual statements carried out by Deloitte as proof that the major accountants can in fact carry out this type of work for crypto companies.

Binance itself does admit that it has made mistakes in the past in how it manages its stablecoins reserves. Also, it acknowledges that it was in error when it held various token collateral in the same wallet intermingled with client funds.

Foong stated that this issue was being rectified by the exchange and would be completed as soon as possible. He also said that the Binance proof-of-reserves statement would be enlarged upon.

אָפּלייקענונג: דער אַרטיקל איז בלויז צוגעשטעלט פֿאַר ינפאָרמיישאַנאַל צוועקן. עס איז ניט געפֿינט אָדער בדעה צו זיין געוויינט ווי לעגאַל, שטייער, ינוועסמאַנט, פינאַנציעל אָדער אנדערע עצה. 

אָריגינעל מקור: CryptoDaily