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Saylor Slams Proof-of-Reserves: ‘It’s Like Publishing Your Kids’ Bank Accounts’
27.5.2025
Warming up for the Bitcoin 2025 conference in Las Vegas, Strategy founder Michael Saylor was asked to weigh in on the concept of proof-of-reserves. Saylor didn’t mince words, dismissing the idea entirely by stating it “dilutes the security” and calling it a flat-out “bad idea.” Saylor’s ‘Bad Idea’...
Saylor says onchain proof-of-reserves a ‘bad idea’ due to security risks
27.5.2025
Michael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks.“The current, conventional way to publish proof of reserves is an insecure proof...
Saylor says onchain proof-of-reserves a ‘bad idea’ due to security risks
27.5.2025
Michael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks.“The current, conventional way to publish proof of reserves is an insecure proof...
Saylor says onchain proof-of-reserves a ‘bad idea’ due to security risks
27.5.2025
Michael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks.“The current, conventional way to publish proof of reserves is an insecure proof...
What are proof-of-reserves audits, and how do they work?
20.3.2025
Key takeawaysPoR audits are cryptographic verifications used by cryptocurrency exchanges to prove they hold sufficient assets to cover customer deposits. Using methods like Merkle trees and zero-knowledge proofs, PoR ensures transparency, similar to how capital reserves are mandated...
USDe Issuer Ethena Labs Integrates Chaos Labs' Edge Proof of Reserves Oracles to Strengthen Risk Management
25.2.2025
The Edge Proof of Reserves Oracles provide a real-time, transparent mechanism to verify that token issuers like Ethena hold sufficient reserves
Coinbase Launches Proof-of-Reserves for cbBTC
19.2.2025
Cryptocurrency exchange Coinbase unveiled its proof-of-reserves page for cbBTC, the exchange’s wrapped version of bitcoin (BTC) that allows users to deposit bitcoin with Coinbase and send tokens that represent the deposited BTC to multiple blockchain networks such as Ethereum or Solana....
Kraken Completes 2024 Proof of Reserves, Verifying Over $21.5 Billion in Client Assets
5.11.2024
Kraken has announced the completion of its 2024 Proof of Reserves, an independent verification process conducted by a third-party accountant. This procedure allows clients to confirm that their account balances are fully backed by onchain assets. The latest attestation, which became available...
WazirX to Offer Proof-of-Reserves, Will $72M Bybit Fiasco Be Solved?
21.10.2024
Indian crypto exchange WazirX is taking new steps toward transparency by introducing a Proof of Reserves (POR) system,…
Coinbase to add proof of reserves to Bitcoin wrapper cbBTC
30.9.2024
Adding proof of reserves will head off concerns about Coinbase’s perceived lack of transparency
Binance Hires UK Accounting Firm Grant Thornton To Advise on Audits
4.9.2024
Binance has hired U.K.-based Grant Thornton to advise on accounting and tax matters, it announced Wednesday
WazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETH
19.7.2024
Blockchain security firms say bad actors typically move altcoins into Ether to prepare for laundering, as the native token has no built-in means to get frozen
Bitget reports $700M capital inflow in Q2, adds 2.9M users
11.7.2024
The exchange reported that its BTC, USDT, and ETH holdings grew by at least 70%, highlighting a $700 million capital inflow for the quarter
Bybit CEO refutes insolvency rumors, shares proof-of-reserves
23.5.2024
Ben Zhou shared a post on X, clarifying that none of the rumors have “any real facts” supporting them
Gate.io’s Proof of Reserves Report Reveals $4.3B in Assets with 115% Reserve Ratio for 171 Assets
24.1.2024
Jan. 24th, Panama – Gate.io, a leading crypto exchange and Web3 innovator, has released its January 2024 Proof of Reserves (PoR), verifiably demonstrating $4.3 billion in total held assets with a ratio of 115.47%, representing over $584 million retained in excess of user deposits. The latest...
Gate.io’s Proof of Reserves Implementation Passes Hacken’s Security Audit
22.1.2024
Hacken Finds Gate.io’s PoR ‘Contributes Significantly to the Field’ Jan 22nd, Panama – Gate.io, a leading crypto exchange and Web3 innovator, announced that its latest Proof of Reserves (PoR) methodology passed a comprehensive security review conducted by Hacken, a pioneer...
Gate.io Implements Zero-Knowledge Tech in New Proof of Reserves Method
24.11.2023
Nov. 23rd – Gate.io, a leading cryptocurrency exchange and Web3 innovator, has announced upgrades to its Proof of Reserves (PoR) process, which includes a new open-source method utilizing zero-knowledge technology. Following the upgrade, the PoR process will now cover the top 100 digital...
OKX Latest Proof of Reserves Shows Exchange Over-collateralized
30.10.2023
The latest proof of reserves shows that the exchange is 103% collateralized with bitcoin, ether, and USDT
Central Bank Group Unveils Data Project Mapping Crypto Transfers
4.10.2023
The new data source, which also maps off-chain flows, could underpin future crypto regulations, according to the German-Dutch central bank project
Binance Sale of USDC for BTC and ETH Raises Fresh Concerns In Latest Proof-of-Reserves Report
8.8.2023
Binance's latest proof-of-reserves (PoR) report has come under scrutiny following its depleting USDC reserves after the collapse of Silvergate Bank.
The report released on Aug 1 to show transparency in the exchange’s dealings with user assets has sparked arguments across social media spaces...