Binance spokesperson: Binance's user assets are all supported 1:1, and more information on token reserves will be released

ChainCatcher news, according to Bloomberg, a Binance spokesperson stated via email to Bloomberg in response to questions about recent fund outflows and concerns over transparency, "Binance's user assets are 1:1 backed, and Binance's capital structure is debt-free. We maintain hot wallet balances to ensure we always have enough funds to meet withdrawal requests, and we will recharge the hot wallet balances accordingly. We are working with Mazars to share all relevant financial information with them so they can verify the accuracy of all the data we share and the process by which we extract the data. We are working to release updates on the reserves of more tokens as soon as possible." (source link)