Changpeng Zhao Says Binance Has No Liquidity Problems

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According to Changpeng Zhao, CEO of cryptocurrency exchange Binance, the platform has enough liquidity so, if necessary, all customers can withdraw 100% of their assets.

He has said:

“People can withdraw 100% of the assets they have on Binance. We won’t have a problem on any particular day.”

According to him, the exchange does not operate under a partial-bank reserve model, whereby only a portion of deposits are held on the platform of a credit institution. He has said that users’ assets are secured one-to-one.

Zhao has explained that the company has not conducted a full financial audit because many auditors are wary of working with cryptocurrencies, and some do not know how to study the activities of cryptocurrency exchanges.