{"id":71534,"date":"2022-12-16T10:31:32","date_gmt":"2022-12-16T08:31:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71534"},"modified":"2025-09-08T09:27:10","modified_gmt":"2025-09-08T06:27:10","slug":"cryptoquant-confirms-mazars-data-on-binance-reserves","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cryptoquant-confirms-mazars-data-on-binance-reserves\/","title":{"rendered":"CryptoQuant confirms Mazars data on Binance reserves"},"content":{"rendered":"<p>The liabilities data for Binance reported in Mazars&#8217; report largely align with expectations, CryptoQuant specialists said.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">We compared Binance\u2019s liabilities stated in the report to CryptoQuant\u2019s on-chain metric: Binance BTC Reserve<\/p>\n<p>We found that Binance\u2019s reported liabilities are very close to what we thought they would be (99%).<\/p>\n<p>Chart \ud83d\udc47<a href=\\\"https:\/\/t.co\/vQIKn7ImYn\\\">https:\/\/t.co\/vQIKn7ImYn<\/a> <a href=\\\"https:\/\/t.co\/ihAyVgq6zP\\\">pic.twitter.com\/ihAyVgq6zP<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\\\"https:\/\/twitter.com\/cryptoquant_com\/status\/1603537076225335296?ref_src=twsrc%5Etfw\\\">December 15, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier, Mazars published the results of verifying the exchange\u2019s Bitcoin liabilities to clients and their backing by reserves. According to Mazars, user deposits are backed by platform assets at 97%. When accounting for bitcoins lent to users on credit, the figure rises to 101%.<\/p>\n<p>Experts <a href=\"https:\/\/u1f987.com\/en\/news\/experts-warn-of-alarming-signals-in-mazars-report-on-binance-reserves\">criticised<\/a> the conducted procedure <span data-descr=\\\"proof of reserves\\\" class=\\\"old_tooltip\\\">Proof-of-Reserve<\/span>. In their view, it did not convince in the safety of client funds on the platform, as it did not provide insight into the effectiveness of internal-control systems.<\/p>\n<p>CryptoQuant analysts confirmed the high level of backing for user deposits on Binance.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abWe found that Binance\u2019s liabilities stated in the report are close to our assessment (about 99%),\u00bb they noted.<\/p>\n<\/blockquote>\n<p>CryptoQuant introduced its own metric named <span data-descr=\\\"net reserve\\\" class=\\\"old_tooltip\\\">Clean Reserve<\/span>. The indicator accounts for reserves excluding the exchange\u2019s own token (Binance\u2019s is BNB).<\/p>\n<p>The data show that the leading platform\u2019s indicator is at roughly the same level as other top exchanges \u2014 around 90%.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">The below chart shows that Binance\u2019s Clean Reserve is at the same level as other top exchanges: around 90%. <a href=\\\"https:\/\/t.co\/ZeZHtb8pBC\\\">pic.twitter.com\/ZeZHtb8pBC<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\\\"https:\/\/twitter.com\/cryptoquant_com\/status\/1603537093933682688?ref_src=twsrc%5Etfw\\\">December 15, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Binance\u2019s reserve volumes do not show a scenario similar to FTX on the eve of the <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">collapse<\/a>, the analysts emphasised. They also noted that their study concerns the technical side:<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abOur analysis should not be interpreted as a positive assessment of Binance as a company or of the BSC\/BNB networks\u00bb.<\/p>\n<\/blockquote>\n<p>Earlier, amid discussion of Mazars\u2019 report, Binance CEO Changpeng Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-refutes-rumors-of-liquidity-problems-at-binance\">denied rumors<\/a> of liquidity problems at the exchange.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The liabilities data for Binance reported in Mazars&#8217; report largely align with expectations, CryptoQuant experts said.<\/p>\n","protected":false},"author":1,"featured_media":71535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744],"class_list":["post-71534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=71534"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71534\/revisions"}],"predecessor-version":[{"id":71536,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71534\/revisions\/71536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/71535"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=71534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=71534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=71534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}