When it was first discovered that FTX might be insolvent, a large slew of crypto exchange executives said that they aimed to provide proof-of-reserves audits. While exchanges like Binance and Crypto.com have provided wallet addresses tied to company wallets, blockchain analytics firm Nansen has detailed the company is in the midst of creating a display of crypto exchange proof-of-reserves.
Proof-of-Reserves Concept Pushes Proof-of-Solvency to the Forefront of Crypto Conversations
Three days ago, amid the chaos surrounding FTX, a group of crypto exchange executives detailed that they planned to provide proof-of-reserves via a Merkle tree and full audits. Following the discussions, Binance disclosed the company’s hot and cold wallet addresses and Crypto.com’s CEO Kris Marszalek shared his firm’s addresses.
The blockchain analytics firm Nansen has gotten involved and the company is building a proof-of-reserves dashboard to display exchange reserves. “We are working with exchanges
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