Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result
Home Business

Which Top Crypto Exchanges Have Published Proof Of Reserves So Far?

John Wanguba by John Wanguba
December 10, 2022
in Business, Economics
0
0
SHARES
20
VIEWS
Share on FacebookShare on Twitter
  • On November 11, Binance became the first Exchange to provide all its data for provisional Proof of Reserve
  • Any user can Check the financials of Coinbase
  • Bitfinex is one of the biggest holders of Ethereum and Bitcoin

FTX dropped from being one of the largest crypto exchanges to filing for bankruptcy within several days. The crypto world was shocked and disappointed after that crash, and over 1 million FTX users were sent into disarray. Although the whole of 2022 was not good for the crypto sector, the sharp crash increased the level of distrust of the users on the exchanges.

Exchanges Proof of Reserves

There were many reasons for the abrupt failure of FTX. Nonetheless, no proper reserve to back the firm is considered the main cause of the failure. The firm had more expenses than the reserve had, but nobody knew about it since the firm was showing Proof of Reserve to the users. Investors and crypto users began doubting other top exchanges too.

Major Crypto Exchanges And Their Proof Of Reserves

Before commenting on the number of exchanges that have shared their Proof of Reserve, it is important to know about the concept of Proof of Reserve. Proof of Reserve is a strategy in which the exchange, lender, and other custody provider use Proof of Reserve to certify their solvency and guarantee that all user balances are backed 1:1 by exposed assets.

Here are some of the top exchanges that have published their Proof of Reserve.

Binance

After the abrupt failure of the FTX exchange, Changpeng Zhao was the first one, who on November 8, 2022, in a tweet, urged the crypto sector to share a Merkle tree Proof of Reserve with their users to get their trust back. On November 11, Binance became the first exchange to offer its provisional Proof of Reserves to its users. That was a great step for other exchanges to follow.

December 2022: What top exchanges published Proof of Reserves so far

Coinbase

It is the second biggest exchange by volume and became the second to share how and where they use their funds. The crypto exchange went a bit deeper and any user can now check the financials of Coinbase.

December 2022: What top exchanges published Proof of Reserves so far 2

Kraken

Kraken crypto exchange distinctly shares its Proof of Reserve. It does not share its wallets and balance publicly but enables its users see whether their funds are safe or not. That can be easily checked using a simple tool, and you can take a snapshot of your audited account.

Gate.io                             

Gate.io is one of those rare crypto exchanges that always share its Proof of Reserve. It shared its Proof of Reserve back in May 2020 and then in October 2022.

Bitfinex

One of the top-running crypto exchanges, Bitfinex, shared its Proof of Reserve on November 11, 2022. The reserve shows that the crypto exchange is one of the biggest holders of both Ethereum and Bitcoin. Bitfinex also followed the steps of Coinbase and Binance and shared its Proof of Reserve after the FTX crash.

December 2022: What top exchanges published Proof of Reserves so far 3

Huobi

After the FTX crash, there were many rumors about Huobi’s insolvency.  However, Huobi exchange quickly shared its full Merkle Tree Proof of Reserve and assured all the users that their funds were safe with them. Moreover, it confirmed to the users that its security is heightened and promised not to withhold their withdrawals.

Buy Bitcoin Now

Crypto.com

Crypto.com has become the latest exchange to share its entire Proof of Reserve. It shared its transparency report on November 11 and promised to share the Proof of Reserve on November 25, 2022. However, due to some technical issues, it shared the Proof of Reserve in the second week of December 2022.

OKK

Although the exchange has not given the full Proof of Reserve, it offers the list of all those Bitcoin and Ethereum that the exchange has. Nonetheless, the crypto exchange is now planning to hire an auditor to offer full Proof of Reserve.

Tags: bankruptcyBinanceBitcoincryptocrypto exchangecryptocurrencyEthereumFTXproof-of-reserve
Previous Post

Phishing Ripple Website Sends Binance-Themed Emails Targeting XRP Holders

Next Post

Morgan Stanley To Halve 2022 Bankers’ Bonuses In Asia

Related Posts

Bitcoin Price Sinks Below $26,750 As Fed Says Rate Hikes Are Not ‘Appropriate’
Economics

Bitcoin Price Sinks Below $26,750 As Fed Says Rate Hikes Are Not ‘Appropriate’

by John Wanguba
March 22, 2023
US Raises Interest Rates Despite Banking Mayhem
Business

US Raises Interest Rates Despite Banking Mayhem

by John Wanguba
March 22, 2023
Does Crypto Copy Trading Work?
Economics

Does Crypto Copy Trading Work?

by John Wanguba
March 22, 2023
Is crypto investment safe?
Economics

Is Crypto Investment Safe?

by John Wanguba
March 21, 2023
Bitcoin Price Surge Breathes Life Into Collapsing Crypto Firms
Economics

Bitcoin Price Surge Breathes Life Into Collapsing Crypto Firms

by John Wanguba
March 21, 2023
Next Post
Morgan Stanley Fined Staff Up To $1 Million For WhatsApp Breaches – Source

Morgan Stanley To Halve 2022 Bankers’ Bonuses In Asia

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market Bitcoin mining blockchain BTC business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe finance FTX inflation investment market analysis Metaverse mining NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Bitcoin Price Sinks Below $26,750 As Fed Says Rate Hikes Are Not ‘Appropriate’
  • US Raises Interest Rates Despite Banking Mayhem
  • Does Crypto Copy Trading Work?

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish