Proof of Reserves: What It Means for Exchange Trust

AI Summary The Trust Deficit For most of the crypto industry’s history, users who deposited assets with an exchange simply trusted that the funds were there. FTX ended that complacency when it collapsed in 2022, with investigators finding that billions in customer deposits had been quietly diverted to its affiliated trading firm, leaving a shortfall of roughly […] fulltext: 368 chars | fulltext source: rss-fallback | summary method: extractive Original: https://www.theblock.co/post/409524/proof-of-reserves-what-it-means-for-exchange-trust?utm_source=rss&utm_medium=rss Source: The Block