“If the exchange is not using its collateral to borrow money, it doesn't really matter what the clean reserves are. If every customer’s crypto is fully held 1:1 in proper wallets, it doesn’t really matter,” he told CoinDesk via Telegram. “What is more important, is knowing the exchange's liabilities amount. Knowing the reserves is one part of the equation, but more importantly, what are the liabilities.”
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December 19, 2022 at 10:04AM
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First Mover Asia: Missing From the Debate About Binance's Proof of Reserves and Auditor, One Metric Shows Another ... - CoinDesk
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