What is Proof of Reserves? [ Why These Exchanges Are Adhering to the New Standard ]

Описание: After the FTX collapse, a number of cryptocurrency exchanges have now moved to restore faith in CEXes by posting their Proof of Reserves.

On November 11, 2022, FTX — the then-third-largest cryptocurrency exchange by trading volume — filed for voluntary Chapter 11 bankruptcy after it was revealed that it was operating a fractional reserve following a sudden liquidity crunch.

While the collapse of FTX did shine a light on the risks associated with storing funds on centralized platforms, a number of cryptocurrency exchanges have now moved to restore faith in CEXes by posting their Proof of Reserves.

1:10 - What Is Proof of Reserves?
1:56 - Which Exchanges Will Adhere to the New Standard?
6:27 - How to Keep Tabs on Proof of Reserves?

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