{"id":524198,"date":"2022-12-09T22:00:00","date_gmt":"2022-12-09T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-com-releases-proof-of-reserves-showing-above-100-for-btc-eth\/"},"modified":"2022-12-09T22:00:00","modified_gmt":"2022-12-09T19:00:00","slug":"crypto-com-releases-proof-of-reserves-showing-above-100-for-btc-eth","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-com-releases-proof-of-reserves-showing-above-100-for-btc-eth\/","title":{"rendered":"# Crypto.com releases proof of reserves, showing above 100% for BTC, ETH"},"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-6a41887cec549\" 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-6a41887cec549\" 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\/crypto-com-releases-proof-of-reserves-showing-above-100-for-btc-eth\/#%E2%80%9D_Cryptocom_releases_proof_of_reserves_showing_above_100_for_BTC_ETH_%E2%80%9C\" >&#8221; Crypto.com releases proof of reserves, showing above 100% for BTC, ETH  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Cryptocom_releases_proof_of_reserves_showing_above_100_for_BTC_ETH_%E2%80%9C\"><\/span>&#8221; Crypto.com releases proof of reserves, showing above 100% for BTC, ETH  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvZDNmZjQ4ZTYtNDY5YS00NGEzLTk3NjYtNDE0ODkyNWI1YmI4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>Tether (USDT), XRP, Dogecoin (DOGE), Shiba Inu (SHIB), Chainlink (LINK), and Decentraland (MANA) are also included in the report, with each of them having reserves of above 100%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/vCNztABJoG\">https:\/\/t.co\/vCNztABJoG<\/a> releases Proof of Reserves audited results. <\/p>\n<p>Mazars Group compared the assets held in on-chain addresses proven to be controlled by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/vCNztABJoG\">https:\/\/t.co\/vCNztABJoG<\/a> with customer balances through an auditor-overseen live query of a production database as of Dec 7. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/sXgvIe4ZMV\">pic.twitter.com\/sXgvIe4ZMV<\/a><\/p>\n<p>\u2014 Crypto.com (@cryptocom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptocom\/status\/1601235686434037760?ref_src=twsrc%5Etfw\">December 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>According to the statement, the audit was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/docs.google.com\/document\/d\/1UPPwykkd_zslHoY9FYaUOO9_rhjwftnmt0iC4hrKbXc\/edit\">conducted<\/a> by Mazars Group, an international audit, tax, and accounting firm, and is accurate as of Dec. 7, 2022.<\/p>\n<p>The crypto community has been watching centralized exchanges more closely since the collapse of FTX in November. Crypto.com itself has been caught up in the crisis, as it briefly had to pause withdrawals on the Solana network due to the fallout from FTX.<\/p>\n<p>By releasing a proof of reserves, the Crypto.com team hopes to show that they are good stewards of crypto users\u2019 assets and can be trusted to process all withdrawals. Kris Marszalek, the CEO of Crypto.com, explained it this way:<\/p>\n<blockquote><p>\u201cProviding audited Proof of Reserves is an important step for the entire industry to increase transparency and begin the process of restoring trust [&#8230;] Crypto.com is fully committed to providing customers around the world a safe, secure, and compliant means of engaging with digital currencies.\u201d<\/p><\/blockquote>\n<p>Some users may not trust the exchange\u2019s reporting of its own assets and liabilities. So to silence the skeptics, Crypto.com\u2019s proof of reserves page also provides a method for users to self-audit its reserves. Users can log in to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a> and verify the assets they held at the moment the audit was done, and they can copy the Merkle hash derived from these balances.<\/p>\n<p>Once the customer obtains their Merkle hash, they can navigate to a separate auditor page under the control of Mazars, where they can receive a detailed proof that their liabilities are part of the larger Merkle tree of the exchange\u2019s audited liabilities.<\/p>\n<p>Mazar claims that its auditor page runs a version of the open source merkletree-verify <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/github.com\/silversixpence-crypto\/merkletree-verify\">program<\/a> by silversixpence-crypto. This implies that if the auditor page was doctored in some way to make it produce false results, any programmer should be able to discover this by running the program in their own developer environment.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>FTX, FTX US and Alameda will file for Chapter 11 bankruptcy in US; SBF resigns<\/em><\/strong><\/p>\n<p>Crypto.com is the latest in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of exchanges offering proof of reserves pages to quell the fears of crypto users. OKX offered its proof of reserves on Nov. 23, though its liabilities have not yet been verified by an auditing firm, and Binance released its proof of reserve audit for Bitcoin only on Dec. 7.<\/p>\n<p>Crypto.com has released an audited proof of reserves page, showing that the exchange has enough crypto assets to back its liabilities to customers, according to a Dec. 9 statement on the exchange\u2019s website. The new page shows that Crypto.com has 102% of the Bitcoin (BTC), 101% of the Ethereum (ETH), and 102% of the USD Coin (USDC) needed to process withdrawals.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/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\/crypto-com-releases-proof-of-reserves-showing-above-100-for-btc-eth\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto.com releases proof of reserves, showing above 100% for BTC, ETH &#8220; Tether (USDT), XRP, Dogecoin (DOGE), Shiba Inu (SHIB), Chainlink (LINK), and Decentraland (MANA) are also included in the report, with each of them having reserves of above 100%. https:\/\/t.co\/vCNztABJoG releases Proof of Reserves audited results. Mazars Group compared the assets held in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":524199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/d3ff48e6-469a-44a3-9766-4148925b5bb8.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[131578,74860,135234,117],"class_list":["post-524198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-crypto-com","tag-cryptocurrency-exchange","tag-ftx","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/524198","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=524198"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/524198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/524199"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=524198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=524198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=524198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}