{"id":555718,"date":"2023-02-23T23:15:00","date_gmt":"2023-02-23T20:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mexc-global-publishes-proof-of-reserves-after-month-long-testing\/"},"modified":"2023-02-23T23:15:00","modified_gmt":"2023-02-23T20:15:00","slug":"mexc-global-publishes-proof-of-reserves-after-month-long-testing","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mexc-global-publishes-proof-of-reserves-after-month-long-testing\/","title":{"rendered":"# MEXC Global publishes proof of reserves after month long testing"},"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-6a3e3a84e256a\" 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-6a3e3a84e256a\" 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\/mexc-global-publishes-proof-of-reserves-after-month-long-testing\/#%E2%80%9D_MEXC_Global_publishes_proof_of_reserves_after_month_long_testing_%E2%80%9C\" >&#8221; MEXC Global publishes proof of reserves after month long testing &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_MEXC_Global_publishes_proof_of_reserves_after_month_long_testing_%E2%80%9C\"><\/span>&#8221; MEXC Global publishes proof of reserves after month long testing &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>On Feb. 22, cryptocurrency exchange MEXC Global <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.mexc.com\/assets\/reserve-proof\">released<\/a> its proof-of-reserves (PoR) snapshot after 45 days of testing. In a document seen by Cointelegraph, MEXC claimed its reserve ratios for Tether (USDT), USD Coin (USDC), Bitcoin (BTC), and Ethereum (ETH) were 120.70%, 240.18%, 116.50%, and 110.53%, respectively via the Merke Tree method.\u00a0<\/p>\n<p>As of the date of snapshot on Feb. 10, MEXC held 232.4 million USDT, 33.0 million USDC, 1,869.0 BTC, and 12,472.0 ETH in custodied user assets. Meanwhile, the total assets held within MEXC wallets for the four coins were 280.6 USDT, 79.4 million USDC, 2177.5 BTC, and 13,785.6 ETH, respectively. A spokesperson for MEXC told Cointelegraph:<\/p>\n<blockquote><p>&#8220;MEXC will provide monthly updates on users&#8217; asset data through the Merkle Tree. This Proof considers strong Proof that our users&#8217; assets are available for 1:1 redemption at any time. As the industry becomes more regulated, we may disclose additional data that our users need. &#8220;<\/p><\/blockquote>\n<p>The spokesperson said that the exchange also plans to establish a &#8220;MEXC Investor Protection Fund&#8221; on top of existing measures to safeguard users&#8217; assets. Prior to the announcement, MEXC published a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/support.mexc.com\/hc\/en-001\/articles\/13459541357209\">list<\/a> of wallet addresses belonging to the exchange. When asked about regulation, the spokesperson explained that MEXC had obtained Money Service Business licenses in the U.S., Canada, Switzerland, and Estonia and that &#8220;clear regulatory standards are so important for the entire industry.&#8221;<\/p>\n<p>While exchanges have welcomed the PoR method as a gauge of financial health, other experts disagree. Jack Graves, a teaching professor of law at Syracuse University, cautioned investors that PoRs do not reveal other key information such as liabilities and leverage. &#8220;You can audit how many assets a crypto exchange has on-chain, but how much of it is pledged as collateral? That&#8217;s a lot harder to figure out unless you have access to their financial services, books, and records, [\u2026],&#8221; he explained.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/60e85c54-a09b-4251-a08a-3c237541809a.png\"><figcaption style=\"text-align: center;\">The MEXC Reserve Ratio report | Source: MEXC Global<\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/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\/mexc-global-publishes-proof-of-reserves-after-month-long-testing\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; MEXC Global publishes proof of reserves after month long testing &#8220; On Feb. 22, cryptocurrency exchange MEXC Global released its proof-of-reserves (PoR) snapshot after 45 days of testing. In a document seen by Cointelegraph, MEXC claimed its reserve ratios for Tether (USDT), USD Coin (USDC), Bitcoin (BTC), and Ethereum (ETH) were 120.70%, 240.18%, 116.50%,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":555719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/86f043a2-1837-48f8-ac73-e5db36d4ec75.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,117],"class_list":["post-555718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/555718","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=555718"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/555718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/555719"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=555718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=555718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=555718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}