Written by 4:10 pm Bitcoin

Crypto Exchanges Need Proof Of Reserves – Bitcoin Magazine

The Bitcoin Policy Institute (BPI), a non-profit dedicated to furthering governmental Bitcoin adoption, has released a new report discussing proof-of-reserves (PoR) in the bitcoin and cryptocurrency ecosystem following the FTX collapse, per a release sent to Bitcoin Magazine.

“Proof of Reserves: a Report on Mitigating Crypto Custody Risk” discusses the fallout from FTX’s bankruptcy. This cascading event has led to multiple exchanges pledging to provide some form of PoR, in which companies provide a transparent view of on-hand assets as a way to provide consumer protection from insolvency.

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