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A full audit of Binance is still pending despite calls for more transparency following the collapse of the crypto exchange FTX. Also, Binance’s earlier proof-of-reserves Binance, the world’s largest cryptocurrency exchange by trading volume, still hasn’t committed to a timeline for a complete accounting of its assets and liabilities. “It’ll take a PANews reported on February 8 that according to Bloomberg, the cryptocurrency exchange Binance said that amid calls for greater transparency after the collapse of its competitor FTX Digital asset exchange Binance is facing delays in its auditing process, which has been prompted by increased calls for transparency following the collapse of rival FTX The Bloomberg report highlighted that Binance’s full audit of its assets and liabilities “is some way off.” Foong affirmed, “It’ll take a longer time.” Binance believes that a complete audit of its finances may take longer than anticipated. The exchange’s former auditor Mazars stopped catering to crypto clients in Binance's audit is still a ways off as accounting firms try to learn the crypto sector, a company exec told Bloomberg. Added transparency around assets in custody is

Binance Audit Delay: Transparency Concerns Grow After FTX Collapse

Binance, the world's largest cryptocurrency exchange by trading volume, is facing increasing scrutiny over the timeline for a full audit of its books. This comes amidst heightened calls for greater transparency across the crypto industry following the dramatic collapse of FTX.

A full audit of Binance is still pending despite calls for more transparency following the collapse of the crypto exchange FTX. Binance’s earlier proof-of-reserves, while a step, hasn’t quelled concerns about the complete picture of its financial health. Binance, the world’s largest cryptocurrency exchange by trading volume, still hasn’t committed to a timeline for a complete accounting of its assets and liabilities. According to a Bloomberg report cited by PANews on February 8, Binance believes that a complete audit of its finances may take longer than anticipated. “It’ll take a longer time,” according to a Binance executive.

The delay in Binance's audit is reportedly due to accounting firms struggling to navigate the complexities of the crypto sector. Binance's audit is still a ways off as accounting firms try to learn the crypto sector, a company exec told Bloomberg. This challenge has further fueled demands for added transparency around assets in custody.

The Bloomberg report highlighted that Binance’s full audit of its assets and liabilities “is some way off.” The delay follows increased calls for transparency after the collapse of rival FTX. Digital asset exchange Binance is facing delays in its auditing process, which has been prompted by increased calls for transparency following the collapse of rival FTX. Foong affirmed, “It’ll take a longer time.” The exchange’s former auditor Mazars stopped catering to crypto clients in general, adding another layer of complexity to the situation.

Ultimately, the delay in a full Binance audit raises questions about the overall health and stability of the leading crypto exchange and underscores the urgent need for increased regulation and transparency within the cryptocurrency market.

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