Proposed measures include restricting Binance officials’ access to private keys and disclosing business expenses.
1. Restricting Binance officials’ access to private keys: One of the proposed measures is to restrict Binance officials’ access to private keys. Private keys are used to access cryptocurrency wallets and are crucial for the security of the assets. By restricting access to private keys, the risk of theft or misuse of funds can be minimized. This measure is aimed at increasing transparency and accountability within the company.
2. Disclosing business expenses: Another proposed measure is to disclose business expenses. This includes expenses related to marketing, events, and sponsorships. By disclosing these expenses, stakeholders can have a better understanding of how the company is utilizing its resources. This measure is aimed at increasing transparency and reducing the risk of financial impropriety.
3. Importance of these measures: The proposed measures are important for maintaining the trust of stakeholders in Binance. The cryptocurrency industry is still largely unregulated, and incidents of fraud and theft are not uncommon. By implementing these measures, Binance can demonstrate its commitment to transparency and accountability, which can help build trust with investors and customers.
In summary, the proposed measures of restricting Binance officials’ access to private keys and disclosing business expenses are aimed at increasing transparency and accountability within the company. These measures are important for maintaining the trust of stakeholders in Binance and demonstrating its commitment to responsible business practices.