CryptoQuant's Audit of Binance Reveals No 'FTX-Like' Behavior in Proof-of-Reserves

An on-chain audit of Binance by the blockchain analytics firm CryptoQuant has concluded that Binance's reserves of bitcoin (BTC) and other major coins "are not showing 'FTX-like' behavior at this point." In analyzing the numbers, CryptoQuant said it compared Binance's BTC liabilities, as stated in the exchange's recent proof-of-reserves report to how much BTC on-chain data shows that Binance holds....