In this episode of The Scoop, The Block Vice President of Research Larry Cermak and Loomdart — a founding member of crypto-native venture firm eGirl Capital — reflect on FTX’s collapse and speculate on what comes next for the crypto industry.
Source: Digital Coin News (digitalcoinnews.net)
But what about their $BUSD reserves, those ERC20 tokens needs a full and timely audit! Not sure how 1 B in $BUSD is collateral for their entire market making AMM, but for $BNB token.
What about their BNB? 🧐
Additional context on the Mazars auditor: 'The accounting regulator has criticised Mazars for “unacceptable” audits, finding that they’ve grown too fast, without adequate controls and picking up higher-risk audits dropped by their peers.'
Proof of liabilities tells you nothing about off balance sheet liabilities.
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