CryptoSlate

Four years after FTX, crypto exchanges still prove assets without proving solvency

Four years after FTX, crypto exchanges still prove assets without proving solvencyWorldPing

A customer opens an exchange account, copies a string of numbers and follows a path through a Merkle tree. The page processes the request and returns a reassuring result: the customer’s balance was included in the exchange’s proof of reserves.

This is a short WorldPing brief. The full report was published by CryptoSlate.

Read the full report at CryptoSlate

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The new controls include a precautionary 24-hour retention of funds exceeding $10,000 for an individual or aggregate transactions per day, to allow VASPs to conduct a risk analysis of these movements.

Brief by WorldPing · Original reporting by Bitcoin.com