您现在的位置是:Will this “worrying” Binance’s proof of reserves crash Binance Coin (BNB/USD) further? >>正文
Will this “worrying” Binance’s proof of reserves crash Binance Coin (BNB/USD) further?
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛36672人已围观
简介Binance has been criticised for the quality of its proof of reservesMazars say the crypto exchange i...
Binance has been criticised for the quality of its proof of reserves
Mazars say the crypto exchange is 97% collateralised
BNB trades down and could find support at $266
The collapse of FTXbrought a lot of caution around centralised exchanges. The collapse perhaps underlined the idea that no exchange was too big to fail. FTX was the second-largest exchange, valued at least $30 billion by early November. Two weeks later, FTX was under the bridge. Investors now feel exchanges need further scrutiny, especially regarding their proof of reserves.
Binance Coin (BNB/USD) was among the exchanges to emphasise the idea of proof of reserves. However, an audit report by Mazars shows there are questions about Binance’s report on its reserves. The auditor says the report lacks information showing the quality of Binance’s internal controls. That includes the system for liquidating assets to protect margin loans.
Mazars says there are discrepancies in total Bitcoin liabilities. According to the auditor, Binance is 97% collateralised, missing the 1:1 ratio threshold. The collateral excludes out-of-scope assets in loan and margin accounts. Binance’s long-standing concerns of opaque operations are also raised in Mazars report.
Not only Mazars has raised questions on Binance’s proof of reserves. A renowned accounting professor and former chief auditor of US PCAOB also says Binance’s reserves raise red flags. Douglas Carmichael says Binance reserves fail to answer all the investor’s questions on collateralisation.
The recent comments and queries on Binance’s proof of reserves will surely be a concern. As the world’s largest crypto exchange, a collapse could be catastrophic. The further confidence hit could slam BNB, although other macro factors are also at play.
BNB slides as momentum weakens
BNB/USD Chart by TradingView
A technical outlook shows BNB on a decline. The MACD indicator is shifting to bear territory and shows momentum is weakening for the cryptocurrency. The next potential level for BNB is $266.
What to watch next for BNB?
The scrutiny of Binance’s reserves could weigh on price, at least in the short term. However, the US inflation report and the Fed’s policy action are events to watch as the BNB priceslides to $266.
Where to buy BNB
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Open AccountBitvavo
The Bitvavo platform was launched in 2018, with the goal to bridge the gap between traditional currencies and digital assets. Bitvavo is making digital assets accessible to everyone, by offering transparent fees, a wide range of assets and an easy to use platform.
Buy BNB with Bitvavo todayTags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/52518.html
相关文章
GMT price prediction: Here’s why Stepn could crash to $0.50
Will this “worrying” Binance’s proof of reserves crash Binance Coin (BNB/USD) further?Stepn’s GMT token has had a spectacular fall from grace in just a few months. After soaring by...
阅读更多
El Salvador buys the dip in crypto commitment
Will this “worrying” Binance’s proof of reserves crash Binance Coin (BNB/USD) further?Bitcoin’s price dropped below $30,000 this week. Because of this drop, El Salvador saw the opp...
阅读更多
Portugal becoming its own enemy with 28% tax on bitcoin and crypto
Will this “worrying” Binance’s proof of reserves crash Binance Coin (BNB/USD) further?Portugal’s finance minister has announced that cryptocurrency enthusiasts must take into accou...
阅读更多
热门文章
- The Central Bank of Bahrain Grants UK Firm Access To Regulatory Sandbox
- Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures
- Top 4: Cryptocurrencies to watch in the last quarter of 2020
- Wrapped Luna is gaining, up 9%: where to buy Wrapped Luna
- Miners earned $166 million from fees on Ethereum throughout September 2020
- Here is why the price of AAVE has been rallying over the past three days
最新文章
Ethereum eyes a breakout, and bulls could be preparing to pounce in
The Sandbox offers a long
Best places to buy ApeCoin, which broke out of resistance
PSG club selling NFT tickets & commemorative NFTs for 1st tour of Japan
Former Facebook crypto chief launches Bitcoin startup
ApeCoin v Decentraland – Which one is a better buy?