# Binance proof-of-reserves is ‘pointless without liabilities’: Kraken CEO

# Binance proof-of-reserves is ‘pointless without liabilities’: Kraken CEO

” Binance proof-of-reserves is ‘pointless without liabilities’: Kraken CEO “ The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell,…

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# Binance publishes official Merkle Tree-based proof of reserves

# Binance publishes official Merkle Tree-based proof of reserves

” Binance publishes official Merkle Tree-based proof of reserves “ Two weeks after Binance initially pledged to develop a proof-of-reserve (PoR) mechanism in response to the FTX liquidity and bankruptcy fiasco, it published its official response. In an announcement on the Binance website, the exchange outlined how users can use the mechanism to verify its holdings. Currently,…

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