Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach, and aren’t fully convinced that they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
Tag: Leveraged Tokens
Leveraged Trading on Binance Takes a Drastic Turn as Users Seek Compensation
Dissatisfied Binance traders continue to express their sentiments on the exchange's leveraged trading product. Currently, users are now looking forward to taking legal actions and utilizing social media platforms to rally up for compensation from the exchange platform. On top of that, regions such as Europe, Asia, and America are keen on investigating Binance following the growing complaints from users. Binance customers like Alex Holland narrate how he lost an investment sum of $10,000 between April and May 19, 2021,…
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