# Bybit joins trend, releases Merkle Tree-verified proof of reserves

# Bybit joins trend, releases Merkle Tree-verified proof of reserves

” Bybit joins trend, releases Merkle Tree-verified proof of reserves “ The cryptocurrency exchange Bybit joins the parade of exchanges in the industry pushing for transparency post the FTX catastrophe. On Dec. 12, it announced that it has launched a Merkle Tree-based proof-of-reserve system. The new transparency initiative allows its users to directly verify Bybit’s holdings,…

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# Binance’s proof-of-reserves raises red flags: Report

# Binance’s proof-of-reserves raises red flags: Report

” Binance’s proof-of-reserves raises red flags: Report “ Binance’s efforts to improve transparency of its reserves also exposed red flags in the crypto exchange’s finances, according to accounting and financial specialists consulted by The Wall Street Journal.  As noted by a former Financial Accounting Standards Board (FASB) member and investment manager, the report released by…

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# FalconX says exposure to FTX represented 18% of its ‘unencumbered cash equivalents’

# FalconX says exposure to FTX represented 18% of its ‘unencumbered cash equivalents’

” FalconX says exposure to FTX represented 18% of its ‘unencumbered cash equivalents’ “ Cryptocurrency trading company FalconX has disclosed that it suffered losses in the collapse of FTX.  According to the company, its assets locked on FTX represent only 18% of its “unencumbered cash equivalents.” However, the company added that this ratio fell well…

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