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To clarify, Binance/nor anybody else are disclosing their liabilities at all, right? Like, as a customer, you have 0 insight/auditing into whether their reserv
by MuffinFlavored 4y ago
To clarify, Binance/nor anybody else are disclosing their liabilities at all, right?
Like, as a customer, you have 0 insight/auditing into whether their reserves are 1:1 with liabilities, 2:1, 1:2, etc. etc.
It's almost like... dishonest?
Saying "look! our reserves! we're above water! we're not over-leveraged! trust us!" and then hoping people are... foolish enough?... stupid enough?... to not know to ask... "ok... and liabilities?..."