Monetary establishments that take shopper deposits have a robust incentive to maintain low reserves and make investments as much deposit cash as potential. The lower the reserves, the higher the prospect of insolvency if something goes fallacious.
US banks and comparable institutions should undergo unbiased audits of, amongst other issues, their reserve levels. We don't take their word for it.
Is that this additionally true of Binance? Is there a periodic unbiased audit of their reserves and different positions?
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