{"id":510973,"date":"2022-11-16T22:15:00","date_gmt":"2022-11-16T19:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bybit-releases-reserve-wallet-addresses-amid-calls-for-transparency\/"},"modified":"2022-11-16T22:15:00","modified_gmt":"2022-11-16T19:15:00","slug":"bybit-releases-reserve-wallet-addresses-amid-calls-for-transparency","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bybit-releases-reserve-wallet-addresses-amid-calls-for-transparency\/","title":{"rendered":"# Bybit releases reserve wallet addresses amid calls for transparency"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d73971217d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d73971217d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bybit-releases-reserve-wallet-addresses-amid-calls-for-transparency\/#%E2%80%9D_Bybit_releases_reserve_wallet_addresses_amid_calls_for_transparency_%E2%80%9C\" >&#8221; Bybit releases reserve wallet addresses amid calls for transparency &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bybit_releases_reserve_wallet_addresses_amid_calls_for_transparency_%E2%80%9C\"><\/span>&#8221; Bybit releases reserve wallet addresses amid calls for transparency &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMDM3OGMwYjUtYWRjZC00ZjE4LWEyMGUtMGQ1ZjhlNDJmZDA1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-887bb764>Crypto exchange Bybit publicly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/benbybit\/status\/1592797790518018048\">released<\/a> the addresses of its largest crypto wallets on Nov. 16. This came on the heels of FTX\u2019s collapse and calls within the industry for greater transparency. Bybit listed the addresses in a press release.<\/p>\n<p>Nansen also produced a dashboard of Bybit\u2019s wallets which indicated that over $1 billion of the exchange\u2019s assets are in BTC, USDT, ETH, and USDC. In the press release, the company claimed that these assets represent over 85% of the total cryptocurrency held by the exchange.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1) Disclosing Bybit main users asset wallets (excluding other assets and non consolidated wallets are too many to list ~+20%). Around $1.9B. Bybit is also working on POR solutions such as Merkel Tree on UID level. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/fAszQVKNJF\">https:\/\/t.co\/fAszQVKNJF<\/a><\/p>\n<p>\u2014 Ben Zhou (@benbybit) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/benbybit\/status\/1592797790518018048?ref_src=twsrc%5Etfw\">November 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The crypto market has experienced a crisis as FTX, the world\u2019s second-largest crypto exchange by volume, has been unable to process withdrawals and has filed for bankruptcy. In the wake of this crisis, Binance CEO Changpeng Zhao has advocated for all exchanges to create a Proof of Reserves protocol that will prove to the community their assets are equal to or greater than their liabilities.<\/p>\n<p>Bybit\u2019s release of wallet addresses is not a Proof of Reserve because it doesn\u2019t provide a Merkle Tree of the exchange\u2019s liabilities to customers. However, releasing the wallet addresses is a precondition of creating a Proof of Reserve later, if Bybit chooses to do so.<\/p>\n<p>In the press release, Bybit CEO Ben Zhou stated that the exchange is committed to ensuring transparency in the future, saying &#8220;We believe that exchanges must be proactive in creating a new type of transparency.&#8221; He continued:<\/p>\n<blockquote><p>\u201cWe must improve on all financial models to deliver the promise of blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, which is real-time, instant, and verifiable information about assets and liabilities held by all actors in the space \u2014 and this is what we are determined to deliver.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bybit-releases-reserve-wallet-addresses-amid-calls-for-transparency\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bybit releases reserve wallet addresses amid calls for transparency &#8220; Crypto exchange Bybit publicly released the addresses of its largest crypto wallets on Nov. 16. This came on the heels of FTX\u2019s collapse and calls within the industry for greater transparency. Bybit listed the addresses in a press release. Nansen also produced a dashboard&#8230;<\/p>\n","protected":false},"author":1,"featured_media":510974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMDM3OGMwYjUtYWRjZC00ZjE4LWEyMGUtMGQ1ZjhlNDJmZDA1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74860,135234,117],"class_list":["post-510973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ftx","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=510973"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/510974"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=510973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=510973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=510973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}