Binance exec suggests an audit of the world's largest crypto exchange is still a ways off amid calls for greater transparency after FTX disaster

• FTX's crash prompted calls for a full audit of rival Binance's assets and liabilities. 

• Binance's audit is still a ways off as accounting firms try to learn the crypto sector, a company exec told Bloomberg. 
• "Added transparency around assets in custody is now a market demand," a Binance spokesperson told Insider.

Binance may be a ways off from a full financial audit amid calls for transparency after the fallout of rival crypto exchange FTX, according to the company's Asia-Pacific head Leon Foong.

The digital asset exchange, which accounted for 60% of trading volumes last year, wants to hire an auditor to review its full assets and liabilities, but many accounting firms are still learning the nascent space, including navigating challenges like price volatility in crypto assets.