[SERIOUS]Once again, don’t trust CoinMarketCap. Binance still ranked 1st with a maximum possible score despite having no audited Proof of Reserves

A little while ago, I made a post not to trust CMC as they clearly manipulate at least some of the data. Long story short, Binance bought CMC and is using it as one of the major token data aggregation sites to boost the reputation of Binance and onboard more customers to Binance. The exchange list ranks Binance as the top exchange with a 9.9/10 score. This rank and score has been so ever since Binance bought CMC in 2020 and CMC suddenly changed their ranking criteria which ‘coincidentally’ moved Binance to the top spot with the highest possible score. Binance was ranked roughly 14th prior.

When the hype around PoR started CoinMarketCap made a show around adding PoR to their exchange data and emphasized its importance. When ranking exchangeS, you would think that exchanges being able to show that are (mostly) fully backed and solvent to prevent another FTX-like collapse MIGHT be significant. But no. Binance is still ranked first with a max score per CMC. This is despite the disastrous rollout of Binance’s PoR. Binance post a PoR snapshot whereafter funds where found to be moved almost 3 Billion within 24 hours of posting the PoR. I also broke that news in this post.

CZ himself said “If an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away”.

After this, Binance released an independently audited PoR report done by Mazars , a report later deleted for unknown reasons whereafter Mazars soon released a statement that they are no longer doing work from crypto firms.

This is not even to say that Binance is necessarily insolvent. It is just to say that their PoR rollout has been disastrous by any metric and any exchange ranking work their salt would have docked at least some amount of points from Binance on an exchange ranking. But no, Binance still sits at the top with a maximum score. DYOR also involves knowing where to get your research info from. Don’t trust CMC.