TechFlow news, according to Bloomberg, Binance is shifting toward semi-automated reserve management for B-Tokens (Binance-peg Tokens) to avoid mixing reserves with customer funds and ensure reserve transparency. The new system will require the minting of new tokens only after collateral has been added to the appropriate wallets.
Previously reported, in January this year, Binance admitted to mistakenly depositing customer funds into the wallet used for B-Token collateral, which has since been properly addressed. A Binance spokesperson stated: "Binance 8 is an exchange cold wallet. Collateral assets were previously incorrectly moved into this wallet and correspondingly referenced on the B-Token proof-of-reserves page. Binance has identified this error and is in the process of transferring these assets to dedicated collateral wallets." The spokesperson added that despite the so-called "historical operational errors," all user assets held by the exchange "have been and will continue to be fully backed 1:1."Original link
