Nansen analyst: Binance's financial situation is a "black box," and reserve proofs do not provide a complete picture
ChainCatcher news, Nansen analyst Andrew Thurman stated in an interview with CoinDesk that although Binance announced it holds $55 billion in customer deposits on-chain, the funds may be sufficient, but its financial situation remains a "black box." The proof of reserves does not provide a complete picture and is not a comprehensive audit.
Thurman indicated that it is currently unclear whether Binance's native token BNB will face the same fate as FTT, and that Binance would only experience pressure similar to what FTX faced before halting withdrawals if approximately $12 billion in funds net outflow. (CoinDesk)
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