Hello for the rebel capitalists, hope you're well.

So breaking news, we have this audit.

Well, I think this might not be breaking.

I think it's from today or the day prior.

But, Binance, this kind of global competitor for what was FDX when they were in business, has said,

listen, we understand there's a lot of skeptics out there.

So we'll go ahead and open up the kimono we will allow an

auditing firm to come in and take a look at our financials look at our balance

sheet and then they'll give us the stamp of approval and then you should have no concern whatsoever about giving us all of your money in the future.

But the audit didn't necessarily go as planned.

Let's go right over to this story.

Here, yep, we got that on. So the story from Coin Telegraph,

Binance's proof of reserves raises red flags.

Corporate structure, Bitcoin liabilities and internal control quality are among the points of concern.

And I'm not saying that they're definitely the next FDX, obviously just a game of probabilities, but we do know the corporate structure and internal control quality was something that SBF really struggled with to say the least among other things.

So Binance's efforts to improve transparency of its reserves also exposed red flags and the

crypto exchanges finances according to accounting and financial specialists

consulted by the Wall Street Journal and I'm to pretty much go through it and read this.

I don't know if I'm going to give too much editorial on this

because it gets very murky and I haven't studied it too much,

but I will give you my opinion just from a standpoint of common sense.

As noted by former financial accounting standards board member and investment manager,

...