Major crypto exchange Binance will follow Gate.io ‘s and Kraken’s example and start doing Proof-of-Reserve (PoR) audits, said CEO Changpeng Zhao.
Zhao, known as CZ, tweeted on Tuesday evening (UTC time) that Binance would “soon” start to do proof-of-reserves, arguing that:
“All crypto exchanges should do merkle-tree proof-of-reserves. Banks run on fractional reserves. Crypto exchanges should not.”
This could be a further boost for other exchanges to follow suit. …
Read More: Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?
Zhao, known as CZ, tweeted on Tuesday evening (UTC time) that Binance would “soon” start to do proof-of-reserves, arguing that:
“All crypto exchanges should do merkle-tree proof-of-reserves. Banks run on fractional reserves. Crypto exchanges should not.”
This could be a further boost for other exchanges to follow suit. …
Read More: Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?
