> I mean, you're describing the problem! Their wallet balances are irrelevant - it's their bank balances that we're interested in. No one holds real world asse

> I mean, you're describing the problem! Their wallet balances are irrelevant - it's their bank balances that we're interested in. No one holds real world assets on Binance. Why would Binance's bank balance be more relevant than the crypto holdings in their wallets? > I can create a wallet with any arbitrary cryptoasset of my own invention & put "10s of billions" of coins in there and claim they're backed 1:1 with some real currency. > Until I can provide reliable evidence that I actually have the currency, it would be insane to believe me, right? > And this is the situation Binance is in - the state of their actual real-world finances is, and has been for as long as I can remember, questionable. (Arguably, I'd say it's worse now that Mazars have dropped them!) You keep making these factually incorrect statements, speaking from a position of ignorance yet asserting them as fact. None of your statements here represent the situation with Binance. Here, I'll help you get started on some research: https://twitter.com/Dynamo_Patrick/status/1602791723192786944 https://twitter.com/Dynamo_Patrick/status/160279172319278694... Please do some basic research next time. Then hopefully we can have intelligent and intellectually honest discussions on crypto here on HN.