> Easily faked. Take your #Btc off exchanges.
>
> https://twitter.com/BitcoinMagazine/status/1590324667474010112

https://twitter.com/maxkeiser/status/1590326119764353024 [[Nitter](https://nitter.it/maxkeiser/status/1590326119764353024)]

---

> The issue is that CEXs *can’t* do proof of reserves
> 
> So what if you show a wallet with $20B? How do you know the sum of user balances isn’t $30B?
> 
> How do you know if the entity has outstanding loans? How do you know what contracts they’ve entered into?
>
> https://twitter.com/cz_binance/status/1590055819416330240

https://twitter.com/AntonioMJuliano/status/1590058085002792960 [[Nitter](https://nitter.it/AntonioMJuliano/status/1590058085002792960)]

cryptocoin

For additional comments on this topic, see also another post found here on SN:

*CZ: Binance will start to do proof-of-reserves soon. Full transparency.*
https://stacker.news/items/91210
https://twitter.com/cz_binance/status/1590055819416330240 [[Nitter](https://nitter.it/cz_binance/status/1590055819416330240)]

An archive of the article is [here](https://archive.ph/T4w7q).  An archive has no paywall, no subscription requirement, and can be easier to read. 