DigitalMoneyBox Signal Desk
DigitalMoneyBox Crypto market intelligence
Browse sections
Cryptocurrency Bitcoin Ethereum Briefings Blockchain Security Mining Altcoin Research NFT
Timeline Hourly market signal stream Sources Publisher health and coverage Topics Curated crypto topic hubs Entities Assets, firms, people, regulators Media Kit Audience and placement options Search Advanced archive filters
Cryptocurrency Cryptonews

Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?

Major crypto exchange Binance will follow Gate.io 's and Kraken's example and start doing Proof-of-Reserve (PoR) audits, said CEO Changpeng Zhao. Zhao, known as CZ, tweeted on Tuesday evening (UTC time) that Binance woul...

38 /100
Market signal

Archive context

Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?
Major crypto exchange Binance will follow Gate.io 's and Kraken's example and start doing Proof-of-Reserve (PoR) audits, said CEO Changpeng Zhao. 
Zhao, known as CZ, tweeted on Tuesday evening (UTC time) that Binance would "soon" start to do proof-of-reserves, arguing that: 
"All crypto exchanges should do merkle-tree proof-of-reserves. Banks run on fractional reserves. Crypto exchanges should not."
This could be a further boost for other exchanges to follow suit. ...
Read More: Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?

Why this matters

This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

Original source

Read on Cryptonews

Related market context