bitcoin

Exchanges Scramble to Compile 'Proof-of-Reserves' as FTX Contagion Grips Markets

cryptocoin

> 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)]

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> 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)]