Binance Chief Strategy Officer: Centralized Exchanges May No Longer Exist in 10 Years

ChainCatcher news, Binance's Chief Strategy Officer Patrick Hillman stated that centralized exchanges may no longer exist in 10 years as the cryptocurrency market is moving towards decentralized finance (DeFi).

When discussing Binance's proof of reserves issue, Patrick Hillman explained, "This will be a multi-step process, including the introduction of third-party auditors, and it will take time to address the scope and scale of the audits required for Binance." Although he did not disclose the specific amount of funds held in the company's accounts, Patrick Hillman stated that Binance is "confident" in its reserves. (CoinDesk)