Mazars reports on Binance Bitcoin reserves and declared over-collateralization. 
Binance’s audits are false, unofficial, and more worthless than Tether’s report says, Francine McKenna.
According to Mazars, an international audit, tax, and advisory firm, collateralization analysis shows that Binance Bitcoin reserves are overcollateralized. The report was announced after Mazars conducted a Proof-of-Reserves and Proof-of-Liabilities verification on the world’s largest crypto exchange by trading volume. The snapshot of the total reserves and liabilities was taken on 22 Nov 2022 at 23:59:59 UTC. 
In a post-assessment statement, Mazars declared: 
At the time of assessment, Mazars observed Binance controlled in-scope assets in excess of 100% of their total platform liabilities.
Mazars calculated and verified Binance assets through a Merkle-Proof. After carrying out the assessment, Mazars discovered that Binance had a collateralization ratio of 101 percent in its Bitcoin reserves. How

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