Singapore-based crypto exchange Crypto.com published its proof of reserve on 11 November and Shiba Inu [SHIB] took center stage. The move to publish the proof of reserve was in line with an industry-wide effort to enhance transparency. This was following the bankruptcy of the world’s second largest exchange, FTX. Crypto.com shared data related to its […]
Stablecoins, including USDT and USDC, made up for almost 11% of the holdings. The rest were spread out among several other cryptocurrencies, including MATIC, MANA, and CHZ.that this data only represented a portion of the exchange’s reserves. A comprehensive audit was also underway and a full report was expected within the next couple of weeks.
While the Proof of Reserves audit preparation is underway, we are sharing our cold wallet addresses for some of the top assets on our platform. This represents only a portion of our reserves: about 53,024 BTC, 391,564 ETH, and combined with other assets for a total of ~US$ 3.0bFurthermore, investors had voiced their concerns about such a considerable portion of the platform’s reserves being held as meme coins. However, the company clarified that the holdings reflected customer deposits as well.In the aftermath of FTX’s collapse, exchanges operating in the crypto industry have had to face the heat from traders and investors.
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