# Proof-of-reserves: Can reserve audits avoid another FTX-like moment?
” Proof-of-reserves: Can reserve audits avoid another FTX-like moment? “ In the wake of the FTX collapse that came about as a result of the now-bankrupt cryptocurrency exchange funneling user funds to mitigate its own risks, crypto exchanges came up with a transparency solution called proof-of-reserves. A practice, which was recently endorsed by Binance CEO…