Mainstream media has been on a crypto rampage this year following several high-profile company meltdowns. The Wall Street Journal has been at the forefront of some of those attacks.
Its latest attempt to deride the crypto industry has taken a swipe at Binance and its recently released proof of reserves.
Over the weekend, the outlet reported that it had consulted with accounting experts who said “investors still shouldn’t be satisfied with the report.”
Over the past month, Binance has been releasing data on its crypto wallet holdings, as reported by CryptoPotato. Furthermore, the firm claimed that deposits were backed 101%.
Binance Reserves Picked Apart
According to an accounting professor at Baruch College in New York, Douglas Carmichael, the report released by audit firm Mazars last week lacks information.
The WSJ also nitpicked at a Bitcoin price discrepancy that it claimed would make Binance reserves 97% collateralized, not 101% as the firm claimed.
Binance spokeswoman Jessica
We współpracy z: https://cryptopotato.com/binance-reserves-report-dissected-as-exchange-quells-concerns/
