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Crypto.com Releases Proof of Reserves Report

Tris Bell

Summary: Crypto.com has released its Proof of Reserves report from auditing firm Mazars Group. The report shows that the exchange’s bitcoin reserves have a 102% collateralization ratio, its Ethereum reserves a 101% collateralization ratio, and its USDC and USDT reserves a 102% and 106% collateralization ratio. In mid-November, it was revealed that Crypto.com mistakenly sent 320,000 ...

Crypto.com has released its Proof of Reserves report from auditing firm Mazars Group.

The report shows that the exchange’s bitcoin reserves have a 102% collateralization ratio, its Ethereum reserves a 101% collateralization ratio, and its USDC and USDT reserves a 102% and 106% collateralization ratio.

In mid-November, it was revealed that Crypto.com mistakenly sent 320,000 ETH to a wallet address linked to Gate.io. The incident significant lowered the exchange’s credibility.

Many other companies, including Binance, Kraken, Bitmex, Coinfloor, Gate.io, and HBTC, have also conducted their Proof of Reserves audits.

Author: Tris Bell

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Link: Crypto.com Releases Proof of Reserves Report   [Copy]
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