According to the Indian crypto exchange WazirX’s proof-of-reserves report, over 90% of its users’ assets are in Binance wallets. The report showed that $259 million of the exchange’s $285 million in assets were held in Binance wallets, with a further $26.5 million in other exchanges. Therefore, the validity of WazirX funds depends on Binance honoring liquidations, highlighting the dangers of the frosty relations between the two firms. Binance announced that it had agreed to acquire WazirX in…
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