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