📃 Research firm CryptoQuant has released a final report analyzing the recently published Proof-of-Reserves (PoR) audit of cryptocurrency exchange Binance.
The platform’s obligations in BTC (customer deposits) are 99% secured by the assets of the exchange. “Collateral increases to 101% when bitcoins lent to customers are included,” the report said.
Based on ETH and stablecoin reserves according to blockchain data, Binance's condition and behavior are not similar to the bankrupt FTX exchange, experts concluded.