Proof-of-Reserves

OKX’s fourth Proof-of-Reserves report reveals 100% clean reserves

OKX’s February Proof-of-Reserves report revealed that the exchange holds $8.6B in clean assets. According to the report, OKX’s reserves of Bitcoin, Ethereum, and Tether remain overcollateralized. 

Binance deploys zk-SNARKs on its proof-of-reserve system

Binance has integrated zk-SNARKs into its PoR system. This is a continued effort to promote transparency in the industry and regain users’ trust. Also, four tokens were added to the system. 

Binance APAC head claims full audit of reserves will take time

Leon Foong, Binance’s head of Asia-Pacific, claimed that a comprehensive audit of the exchange’s reserves will take time due to the steep learning curve associated with auditing crypto firms.

Aave Integrates Proof of Reserve By Chainlink On Avalanche

Aave has integrated Proof of Reserves by Chainlink on Avalanche. This will enable on-chain verification and transparency of lending markets. It will also ensure bridged assets are adequately collateralized.

Aave DAO Approves Proposal To Implement Chainlink’s Proof-Of-Reserves On Avalanche

The Aave DAO has voted in favor of using Chainlink’s Proof-Of-Reserves to secure bridged assets on Avalanche.

OKX Releases Second Proof-Of-Reserves Report

OKX published its second Proof-of-Reserves report to continue providing transparency to its users.

Paxful Delists Ethereum From Platform Due To “Integrity” Issues

Paxful removed Ethereum from its platform due to integrity issues caused by Ethereum's transition to a Proof-of-Stake model.

Mazars Suspends Proof-Of-Reserves Audit Services For Crypto Exchanges

Binance reported that Mazars has stopped offering services to crypto exchanges. The auditing firm removed the web pages that showed its Proof-of-Reserves (PoR) audits conducted on Binance, Crypto.com, and KuCoin's reserves.

Binance CEO Cautions Against Holding Crypto In Self-Custody As The Exchange’s Weekly Outflows Top $3.66B

In a recent Twitter Space discussion, Changpeng Zhao claimed that investors are more likely to lose their crypto assets by keeping them in private wallets instead of centralized exchanges. 

Binance Users Withdrew $1.9B Worth Of Crypto In 24 Hours

Binance's clients withdrew over $1.9B from the exchange in the last 24 hours. The $1.9B figure marks the highest volume withdrawn from Binance within a day since June. 

Crypto.com Releases Its Proof Of Reserves

Crypto.com has released its Proof of Reserves which Mazars Group verified. The exchange aims to restore users’ trust and develop a culture of accountability and transparency in the industry.

Coinbase Encourages Users To Switch To USDC By Waiving USDT To USDC Conversion Fees

Coinbase asked clients to switch to USDC by introducing zero-fee Tether (USDT) to USD Coin (USDC) conversion.

Genesis And Digital Currency Group Owe $900M To Gemini Users

Genesis and its parent company, Digital Currency Group (DCG), owe $900M to users of Gemini Earn. Gemini has formed a creditors’ committee to re-acquire these funds.

US Senator Requests Major Crypto Exchanges To Disclose Consumer Protection Safeguards

Ron Wyden, the Chairman of the Senate Finance Committee, sent letters to the CEOs of six crypto exchanges asking them to reveal the measures they use to protect clients' funds.

Binance Transfers 127K Bitcoin To An Unknown Wallet As Part Of Proof-Of-Reserves Audit

After Binance moved 127K Bitcoin tokens to an unknown wallet, Changpeng Zhao claimed that the transaction was a part of the exchange's Proof-of-Reserves (PoR) audit.

Binance Launches Proof of Reserves System In Line With Its Commitment Towards Transparency

Binance launches Proof-of-Reserves in a bid to show transparency. The crypto community reacts to this milestone

Latest News

OKX Releases Second Proof-Of-Reserves Report

OKX published its second Proof-of-Reserves report to continue providing transparency to its users.

Paxful Delists Ethereum From Platform Due To “Integrity” Issues

Paxful removed Ethereum from its platform due to integrity issues caused by Ethereum's transition to a Proof-of-Stake model.

Mazars Suspends Proof-Of-Reserves Audit Services For Crypto Exchanges

Binance reported that Mazars has stopped offering services to crypto exchanges. The auditing firm removed the web pages that showed its Proof-of-Reserves (PoR) audits conducted on Binance, Crypto.com, and KuCoin's reserves.

Binance CEO Cautions Against Holding Crypto In Self-Custody As The Exchange’s Weekly Outflows Top $3.66B

In a recent Twitter Space discussion, Changpeng Zhao claimed that investors are more likely to lose their crypto assets by keeping them in private wallets instead of centralized exchanges. 

Binance Users Withdrew $1.9B Worth Of Crypto In 24 Hours

Binance's clients withdrew over $1.9B from the exchange in the last 24 hours. The $1.9B figure marks the highest volume withdrawn from Binance within a day since June. 

Crypto.com Releases Its Proof Of Reserves

Crypto.com has released its Proof of Reserves which Mazars Group verified. The exchange aims to restore users’ trust and develop a culture of accountability and transparency in the industry.

Coinbase Encourages Users To Switch To USDC By Waiving USDT To USDC Conversion Fees

Coinbase asked clients to switch to USDC by introducing zero-fee Tether (USDT) to USD Coin (USDC) conversion.

Genesis And Digital Currency Group Owe $900M To Gemini Users

Genesis and its parent company, Digital Currency Group (DCG), owe $900M to users of Gemini Earn. Gemini has formed a creditors’ committee to re-acquire these funds.

US Senator Requests Major Crypto Exchanges To Disclose Consumer Protection Safeguards

Ron Wyden, the Chairman of the Senate Finance Committee, sent letters to the CEOs of six crypto exchanges asking them to reveal the measures they use to protect clients' funds.

Binance Transfers 127K Bitcoin To An Unknown Wallet As Part Of Proof-Of-Reserves Audit

After Binance moved 127K Bitcoin tokens to an unknown wallet, Changpeng Zhao claimed that the transaction was a part of the exchange's Proof-of-Reserves (PoR) audit.

Binance Launches Proof of Reserves System In Line With Its Commitment Towards Transparency

Binance launches Proof-of-Reserves in a bid to show transparency. The crypto community reacts to this milestone