The US Public Company Accounting Oversight Board (PCAOB) has released an investor advisory document for crypto users. The report claims that the proof-of-reserve (PoR) reports are “inherently limited,...
Tag: ProofofReserves
US accounting watchdog warns investors about proof-of-reserves reports
The Public Company Accounting Oversight Board (PCAOB) — a watchdog that oversees audits of public companies in the United States — recently issued an advisory that warned investors about proof-of-rese...
Binance adds 11 tokens to its proof-of-reserves
Binance has increased the number of assets accepted by its proof-of-reserves (PoR) system from 15 to 24 by adding 11 new digital currencies. Dogecoin, Curve DAO Token, and 1inch are among the added t...
Binance Proof-of-Reserves Includes 11 New Tokens
Binance has included an additional 11 tokens in its proof of reserve (PoR) report, but the community is demanding an audit. The Changpeng Zhao-led exchange’s PoR report now shows 24 assets after addin...
Binance Updated Proof-of-Reserves Show Exchange Holds 78T Shiba Inu & 2.7B XRP
The exchange holds both assets at overcollateralized ratios to ensure the security of users’ funds. Binance currently holds up to 78.5 trillion Shiba Inu (SHIB) tokens and 2.7 billion XRP, according t...
Archblock to use Chainlink’s proof-of-reserves system for TrueUSD verification
Archblock, the issuer of TrueUSD stablecoin, said it will use Chainlink’s proof-of-reserves system to let users verify its reserves are fully collateralized on the blockchain via an automated da...
OKX proof-of-reserves shows clean assets worth $8.6b
A recent proof-of-reserves(PoR) analysis conducted on OKX claims the exchange is overcollateralized with reserve ratios of 104% for bitcoin (BTC), 104% for ether (ETH), and 102% for USDT. Nansen Dashb...
Crypto Exchange OKX Releases February Proof-of-Reserves Report
3 hours ago | 2 mins read Exchange News Report shows that OKX is over-collateralized, with reserve ratios of 104% for bitcoin (BTC). The exchange disclosed in January that it had $7.5 billion in clean...
Binance Announces Upgrade to Proof-of-Reserves Verification
The cryptocurrency exchange Binance made an important announcement regarding an upgrade to its proof-of-reserves verification system on February 10. The company stated that it would now incorporate zk...
Binance upgrades proof-of-reserves verification to include zk-SNARKs
On Feb 10, cryptocurrency exchange Binance announced a major upgrade to its proof-of-reserves verification system, saying it would now incorporate zk-SNARKs — a cutting-edge technology Binance reports...
Binance deploys zk-SNARKs on proof-of-reserves system
Binance, the biggest centralized cryptocurrency exchange by volume, has added zk-SNARKs’ zero-knowledge proof system to its proof-of-reserves (PoR) verification system to attest that funds held ...
OKX Reveals $7.2B of ‘Clean’ Assets in Latest Proof-of-Reserves Report
OKX today published its third monthly Proof-of-Reserves (PoR) report showing $7.2 billion held by the exchange in Bitcoin (BTC), Ethereum (ETH), and the USDT stablecoin. Citing data from the blockchai...
OKX claims its proof-of-reserves is 100% clean
Crypto exchange OKX stated that it has a clean proof-of-reserves (PoR) comprising the industry’s most considerable assets (bitcoin, ethereum, and USDT). As per the platform, it is the third monitor fo...
OKX reports $7.5B Proof-of-Reserves in BTC, ETH, USDT
OKX has reported its Proof-of-Reserves (PoR) for the first time revealing $7.5 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), according to its January PoR report on Jan. 19. OKX is the o...
OKX Releases Proof-of-Reserves Report With $7.5B “Clean Assets”
After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds. Popular crypto exchange O...
Coingecko update incorporates proof-of-reserves data
Cryptocurrency data aggregator CoinGecko has announced plans to incorporate Proof of Reserves (PoR) into its Trust Score 3.0 methodology for centralised cryptocurrency exchanges. In a move aimed at r...
India’s WazirX Releases Proof-of-Reserves With Over 1:1 Liability Ratio
Indian crypto exchange WazirX released its proof-of-reserves (PoR) report disclosing its reserves-to-liability ratio of over 1:1. Alongside the paper, published by CoinGabbar, a third-party platform t...
Nic Carter examines recent crypto proof-of-reserves, ranks exchanges
The narratives around proof-of-reserves have become more pronounced in the wake of the FTX collapse. Nic Carter, a well-known bitcoin advocate and Coin Metrics co-founder, ranked the attestations made...
Nic Carter dives into proof-of-reserves, ranks exchange attestations
Bitcoin advocate Nic Carter has released an in-depth analysis of centralized exchange proof-of-reserves and ranked the attestations provided by some of the most prominent crypto trading platforms in t...
What are proof-of-reserves audits, and how do they work?
With the rising interest in digital assets from institutional and retail investors, custody options have also experienced parallel growth. As a result, different kinds of custody choices have evolved ...
Crypto Exchange OKX Releases Second Proof-of-Reserves Report
OKX said the report will be published on the 22nd day of each month and besides the latest version of the report, users will also be able to download past reports at their convenience. Digital currenc...
OKX publishes second proof-of-reserves report
Crypto exchange OKX released a second proof-of-reserves report, a month after its first, in a continuing effort among crypto exchanges to provide evidence they are handling customer funds safely follo...
OKX publishes second Proof-of-Reserves update, commits to report monthly
Leading crypto exchange OKX has published the second update of its proof-of-reserves (PoR), with a promise to update on a monthly basis. Following the collapse of FTX, crypto exchanges including OKX a...
OKX Unveils 2nd Proof-of-Reserves Report, Promises Monthly Publication
Proof of reserves is an audit method adopted by cryptocurrency exchanges in the aftermath of FTX’s collapse to prove that the custodian, in this case, OKX, isn’t lending out customer funds...
SEC increasing scrutiny of crypto ‘proof-of-reserves’: WSJ
The U.S. Securities and Exchange Commission’s acting chief accountant, Paul Munter, warned investors to put little faith in crypto companies’ proof-of-reserves. “We’re warning invest...
Exchanges are counting on ‘proof-of-reserves’ to restore consumer confidence, says Bitstamp US CEO
Episode 127 of Season 4 of The Scoop was recorded live with The Block’s Frank Chaparro and Bitstamp USA CEO Bobby Zagotta. Listen below, and subscribe to The Scoop on Apple, Spotify, Googl...
Investor Michael Burry Calls Proof-of-Reserves Audit Meaningless
57 seconds ago | 2 mins read Exchange News Burry is regarded as the first investor to correctly predict U.S. subprime mortgage crisis. Binance CEO Changpeng Zhao (CZ) addressed criticisms of the POR o...
Binance Proof-of-Reserves Auditor Mazars Pauses All Work for Crypto Clients
Mazars, the auditing firm working with Binance and other crypto exchanges on proof-of-reserves statements, has paused all work for crypto clients, Binance said in an emailed statement. “Mazars h...
Binance proof-of-reserves removed from the auditor’s site
Crypto exchange Binance has seen its proof-of-reserve audits removed from auditor Mazars’ website. Mazars’ official website shows they fully discontinued Mazars Veritas, a section dedicated to cryptoc...
Binance’s Proof-of-Reserves Audit Verified by CryptoQuant as Correct
The investigation verifies that all of Binance’s reserves can be accounted for. According to Nansen, of Binance’s stated $60.4 billion in assets, $6.2 billion was BNB. Recently, the outcomes of Binanc...
Mazars to pause all crypto exchange proof-of-reserves reports
Accounting firm Mazars is temporarily ceasing all work for its crypto exchange clients, including proof-of-reserves reports for the likes of Binance, KuCoin and Crypto.com. A spokesperson for M...
Binance’s Exchange Balances vs Proof-of-Reserves, A Complete Report
Off lately, crypto exchange Binance has been on the radar as the FTX collapse puts investors on a high alert. The crypto exchange recently provided its Proof-of-Reserves report audited by accounting f...