In response to FTX’s recent shocking demise, cryptocurrency exchanges across the industry from Binance to Crypto.com are pledging to display proof of reserves as a way to boost transparency. The...
Tag: Reserves
Exchanges rushed to show proof of reserves. It’s not enough.
Centralized exchanges still standing after the fall of FTX rushed to show proof of reserves. It’s a nice show, but it’s not enough, experts say. Proof of reserves — or showing exactl...
Binance in Hot Water After Moving $2.7B From Reserves Wallet
Binance is receiving flak from the crypto community after moving $2.7 billion out of its proof-of-reserves wallet. The exchange responded, saying the move was to a TRX cold wallet. All eyes are turnin...
Crypto exchanges release “proof of reserves” – crypto.news
Many crypto exchanges worldwide were rushing to publish proof of reserves to reassure investors their assets were safe in the wake of the FTX meltdown. A round-up of some popular exchanges seems to di...
Gate.io highlights its 3-year 100% proof of reserves journey
Following another major crypto exchange collapse, user concerns around the solvency, security, and stability of crypto exchanges have reignited, leading to discussions regarding exchange reserves. As ...
Bybit and Huobi Rush to Publish Proof of Reserves
Bybit and Huobi have joined the ranks of major crypto exchanges that have publicly provided their proof of reserves. The collapse of cryptocurrency exchange FTX and its affiliated companies have trigg...
LBank to Publish an Auditable Merkle Tree and Proof of Reserves
The global crypto exchange, LBank, has recently announced that it will share its Merkle-tree proof-of-reserves, in view of recent concerns about the opaque nature of certain industry issues. LBank gav...
Crypto Exchanges Committing To Proof Of Reserves, Will It Build Trust?
The recent debacle of the FTX crypto exchange, coupled with the fiasco that took place with Terra earlier this year, disrupts the level of confidence among the crypto community. The major takeaway fro...
Binance lags behind Coinbase, Kraken and Gate.io in proof of reserves initiative – crypto.news
On November 8, Changpeng Zhao — the CEO of the world’s leading crypto exchange, Binance — suggested that cryptocurrency exchanges should provide proof of reserves. Still, his exchange ended up not bei...
Will these 7 exchanges’ ‘proof of reserves’ meet the call for transparency
The downfall of FTX has induced fear among investors and traders alike. Thanks to growing distrust of crypto-exchanges, a number of them have taken steps to incorporate more transparency in their oper...
What Is Proof of Reserves and Can It Build Back Trust?
The collapse of platforms such as FTX, Celsius, BlockFi, Voyager Digital and Hodlnaut has instilled deep skepticism in centralized custodians — especially those whose don’t directly derive revenue fro...
Crypto.com CEO Explains How Exchange Is Different From FTX Amid Push for Reserves Transparency
Crypto.com CEO Kris Marszalek says his exchange operates differently than FTX, the digital asset trading platform that famously imploded last week. In a new interview, Marszalek says his exchange’s fo...
Bitcoin Miners Dumped Almost 10% Of Their Reserves In Past Week
Data shows Bitcoin miners have dumped around 7.7k BTC in the last week, resulting in an almost 10% decrease of their reserves in the period. Bitcoin Miners Withdraw Large Amounts Following The Crash A...
Mid-Cap Altcoin Soars 189% in One Week Amid Intense Scrutiny of Crypto Exchange Reserves
The collapse of FTX and the subsequent skepticism of crypto exchange reserves is sparking huge rallies for mid-cap altcoin Trust Wallet Token (TWT). Trust Wallet is a non-custodial app that allows use...
Huobi replied to the concerns over fake reserves snapshot
Huobi released a ‘Work Report on Asset Transparency.’ As per the report, Wu Blockchain covered a piece of news that led to raising concerns of the users. On Sunday, Wu Blockchain, a crypto news provid...
Bitcoin Mining Firm TeraWulf Raised $17M of Capital in Q3, But Cash Reserves Remain Low
In the same quarter, TeraWulf significantly increased its hashrate, or computing power, and energy capacity that could be used for deploying mining machines. About 50 megawatts (MW) of power were brou...
Kraken Freezes FTX and Alameda Accounts, Provides Proof of Reserves
On Nov. 13, the Kraken exchange announced that it has been in contact with law enforcement regarding the accounts held by the bankrupt FTX group. It added that it had frozen any accounts linked to FTX...
Crypto Exchange ‘Proof of Reserves’ Not Calming Investor Fears
Crypto exchanges are trying to prevent a liquidity crisis by proving there is no liquidity crisis. It doesn’t seem to be working. After FTX went under, crypto exchanges Crypto.com and OKX created so-c...
Crypto[.]com CEO Clears Air On Reserves, FTX Exposure, FIFA
Crypto.com CEO Kris Marszalek in an AMA session on Monday clears the FUD surrounding liquidity problems at the crypto exchange after a large crypto exchange FTX filed for bankruptcy last week. Marszal...
Vitalik Buterin Will Help Binance Prove Its Reserves, CZ Says
Key Takeaways Binance CEO Changpeng “CZ” Zhao has reiterated the importance of transparency in the cryptocurrency industry following FTX’s collapse. He has confirmed that Vitalik Buterin will cr...
Kraken, Coinbase and Gate.io publish proof of reserves with liabilities
Prominent crypto exchanges Kraken, Coinbase and Gate.io became the first exchanges to publish proof-of-reserves, including liabilities, as part of their audits. Following the collapse of the FTX, Bina...
FTX Japan Holds Over 65M XRP In Cold Wallet Reserves
– Advertisement – FTX Japan released a breakdown of user assets on the exchange, asserting that its reserves are larger than user deposits. FTX Japan shared a breakdown of user assets and ...
Kraken “maintains full reserves” while putting FTX and Alameda accounts on hold
Kraken Exchange has announced that accounts belonging to FTX, Alameda Research, and their executives have been frozen after FTX filed for bankruptcy protection in the United States. This action follow...
Binance Reveals It Has Over $70 Billion in Reserves
After the chaos that unfolded this past week with FTX, many exchanges and firms have taken a pledge towards transparency and have revealed the balances of their hot and cold wallets. Binance, who was ...
Binance’s CZ Cautions Investors Over Proof of Reserves by Exchanges
Exchange News Crypto.com’s CEO said that the mentioned transactions were, in fact, inadvertent. Huobi has also issued a statement referencing the transfer to an institutional investor. After the FTX c...
The Next black Swan Event?: Gate.io and Crypto.com Seem to be Fabricating Proof of Reserves
Following the demise of FTX, the crypto community is particularly worried that some crypto exchanges, such as Gate.io and Crypto.com, seem to be falsifying their proof of reserves. The failure of Samu...
Huobi addresses concerns raised surrounding fake reserves ‘snapshot’
Huobi has addressed the concerns raised as a result of Wu Blockchain’s tweet that highlighted over 10,000 ETH being moved out of the Huobi 34 wallet. Huobi explained that a part of the publicized addr...
Crypto.com transferred nearly 85% of ETH reserves to Gate.io in October, CEO assures it was accidental
The Twitter community is on fire, discussing hidden motives behind asset transfers between Crypto.com and Gate.io that took place in October. The exchange’s CEO Kris Marszalek responded to speculation...
Gate.io and Crypto.com Appear to Be Faking Proof of Reserves
In light of the recent FTX implosion, the crypto community is concerned that some crypto exchanges like Gate.io and Crypto.com appear to be faking their reserves. Community concerns were triggered whe...
Are Crypto Exchanges Faking Proof Of Reserves? CZ Warns Investors
In the light of FTX crash, Binance CEO CZs initiative to disclose proof of reserves has forced other market players to do the same. While, exchanges have started declaring their proof of funds, crypto...
Kraken freezes FTX and Alameda accounts, ‘maintains full reserves’
Kraken has frozen accounts owned by FTX Group, Alameda Research and their executives following their filing for Chapter 11 bankruptcy protection. “Kraken has spoken with law enforcement regardin...
Crypto.com Holds 20% of Its Reserves in Meme Token SHIB
Notable cryptocurrency exchange Crypto.com revealed today that it holds 20% of its reserves in the Shiba Inu (SHIB) token—a highly speculative “meme coin.” Data from blockchain analysis firm Nansen sh...