Leon Foong, head of Binance's Asia-Pacific region, revealed on Wednesday that it will take a long time for Binance to conduct a comprehensive audit of its password assets and liabilities.

Despite calls for greater clarity after the collapse of the password exchange FTX, a full audit of Binance has yet to be carried out. In addition, the Binance earlier confirmed by the inventory provided by the audit firm Mazars that the report was deleted after the enterprise suspended the work of the encryption enterprise.

Binance comprehensive audit report takes a lot of time.

According to Bloomberg News on Feb. 8, Leon Foong, head of Binance Asia Pacific, agreed that the company needs a lot of time to publish and conduct a comprehensive audit of its password assets and liabilities.

The password exchange is still looking to hire a top audit firm to audit its entire balance sheet. However, large and medium-sized audit firms are still in control of the encryption sales market because regulators have stepped up verification and other audit companies are reluctant to cooperate with encryption companies.

This will take a long time. It shows you the limitations of a more traditional industry, due to having a study. First, this is not their core competitive advantage. Second, if he does something wrong, it is obvious that there will be some verification.

Binance, as a password exchange with the largest trading volume, encountered great pressure from the streets after the FTX dilemma, requiring it to improve its clarity. In December last year, Mazars Group issued a Binance inventory confirmation report, but due to increased verification efforts, stopped the password enterprise service and deleted the report.

BinanceCEO Chang Peng "CZ" Zhao thinks password auditing is exciting. In addition, Nasdaq-listed Coinbase's annual statements released by Deloitte, a leading audit firm, show that large and medium-sized password exchanges can be audited.

Does Binance FUD still work?

Last December, Glassnode statistics showed that Binance understated BTC ownership in its own reported POR. In addition, Binance mistakenly keeps some of its tokens in the same wallet as the exchange's customer assets. The exchange has been trying to fix this error quickly.

Binance has expanded globally on the premise that other password companies have laid off employees. Recently, Binance invested in the Korea GOPAX password Exchange and re-entered the sales market after many years. In addition, Binance is working to improve productivity and staff to identify industries that must be reorganized.

Please also refer toShiba Inu Burn shares rose 10%, and the top encryption exchange pushed millions to Burn's detailed address