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...
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. ...
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