.BernsteinBuzz says binance is solvent, liquid and stable and this is evident in the exchange's more than $55 billion in verifiable cold-wallet addresses. BernsteinGautam. willcanny99 reports.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Binance is solvent, liquid and stable and this is evident in the exchange’s more than $55 billion in verifiable cold wallet addresses, Bernstein said in a research report Monday.
The crypto exchange can also “pass the test of withdrawals” as it did when some $6 billion of customer funds were withdrawn on Dec. 13, the report said. “Binance’s undisputed market leadership has not been an accident – it has a long history of doing right by the customer,” the report added, noting that the exchange has made customers whole through hacks and regulatory challenges. The exchange is now around 75% of the global crypto trading market.
Bernstein says Binance faces two challenges. Firstly, it has an offshore holding company based out of the Cayman Islands, which means it must take “progressive steps moving towards an on-shore structure,” even at the cost of short-term business.
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