Express

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

Last Update:

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

Related Articles

  • Why a "One-Size-Fits-All" Approach to Stablecoin Issuance Fails Given Diverse Fiat Curr... 5 hours ago
  • BitFuFu’s VP on Mining Leadership, Corporate Crypto Treasuries, the Stablecoin Act, and... 5 days ago
  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 6 days ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 17 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 18 days ago

    • You need to login to comment.