• About Us
  • Jobs
  • Contact
  • Login
  • Register
Crypto Mufasa
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
Crypto Mufasa
No Result
View All Result
ADVERTISEMENT
Home Crypto Exchanges

CoinMarketCap has launched a proof-of-reserve tracker for crypto exchanges.

Hania by Hania
November 23, 2022
in Crypto Exchanges, General News
Reading Time: 3 mins read
A A
0
CoinMarketCap has launched a proof-of-reserve tracker for crypto exchanges.
Tweet

In Brief:

  • You May Also Like:
  • Coinbase Derivatives Exchange Is Set To Introduce Bitcoin And Ethereum Futures
  • Kraken’s Canada Customer Deposits Increased 25% After Crypto Exchange Binance Left Due To Rising Regulatory Restrictions In North America

CoinMarketCap launches proof-of-reserve tracker for crypto exchanges. By displaying the total assets, public wallet addresses, balances, and values of the wallets shown, the tool enables users to keep monitoring the reserves of exchanges.

The top market researcher and tracker in the cryptocurrency industry claims that a new tool on CoinMarketCap’s platform has been created that gives customers the most recent financial information on exchanges.

The proof of reserves (PoR) tracker examines the active cryptocurrency exchanges in the market for transparency regarding liquidity at any given time. The tracker provides information about the company’s overall assets, as well as the associated public wallet addresses, balances, and values of the wallets.

Every five minutes, according to CoinMarketCap, the PoR trackers will update their data. The company tweeted a user manual for the tool on November 22.

You May Also Like:

Coinbase Derivatives Exchange Is Set To Introduce Bitcoin And Ethereum Futures

Coinbase Derivatives Exchange Is Set To Introduce Bitcoin And Ethereum Futures

June 2, 2023
Kraken’s Canada Customer Deposits Increased 25% After Crypto Exchange Binance Left Due To Rising Regulatory Restrictions In North America

Kraken’s Canada Customer Deposits Increased 25% After Crypto Exchange Binance Left Due To Rising Regulatory Restrictions In North America

June 1, 2023

NEW #CMC Feature: Exchange’s Proof of Reserves 🏦

Proof of Reserves (PoR) provides transparency to #cryptocurrency reserves through a verifiable auditing practice.

<1/5> pic.twitter.com/HlNbUGzOYE

— CoinMarketCap (@CoinMarketCap) November 22, 2022

Binance was the first example in the five-part Twitter discussion, with about $65 billion listed in its total wallet addresses. The following exchanges also provide PoR data: KuCoin, Bitfinex, OKX, Bybit, Crypto.com, and Huobi.

CoinMarketCap has launched a proof-of-reserve tracker for crypto exchanges.

Changpeng “CZ” Zhao, the CEO and co-founder of Binance, retweeted the CoinMarketCap development and included a link to Binance’s page. On Twitter, some members of the crypto community have referred to this function as a “great transparency addition.”

Following the continuing FTX liquidity and insolvency crises, CZ was among the first to promise to give evidence of reserves.

On November 10, it published proof of assets that included wallet addresses and transactions. CZ continued by saying that what is already accessible is only the preliminary form of what will soon be made accessible via Merkle Tree PoR.

Many other platforms in the market started disclosing their financial reserve and liquidity statistics in an effort to be more transparent after Binance set the standard. Some of the first companies to release their own data were Chainlink Labs, Bitfinex, and Bybit.

Grayscale, a provider of cryptocurrency investment products, has chosen to withhold its on-chain PoR, citing security concerns. It did disclose a letter from Coinbase Custody confirming the complete backing of Grayscale’s cryptocurrency holdings, but it withheld the wallet addresses.

Tags: Bitfinexbybitcrypto newscryptocurrency exchangeskucoinPoR trackers
Tweet47Share76ShareSendPin17ShareSend
ADVERTISEMENT
Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Coinbase Derivatives Exchange Is Set To Introduce Bitcoin And Ethereum Futures
Crypto Exchanges

Coinbase Derivatives Exchange Is Set To Introduce Bitcoin And Ethereum Futures

June 2, 2023
Kraken’s Canada Customer Deposits Increased 25% After Crypto Exchange Binance Left Due To Rising Regulatory Restrictions In North America
Crypto Exchanges

Kraken’s Canada Customer Deposits Increased 25% After Crypto Exchange Binance Left Due To Rising Regulatory Restrictions In North America

June 1, 2023
Dr John Forsyth ONFO Coin Co-Founder And “Bitcoin Millionaire” Found Dead
General News

Dr John Forsyth ONFO Coin Co-Founder And “Bitcoin Millionaire” Found Dead

June 1, 2023
Crypto.com Obtained Digital Token License In Singapore
General News

Crypto.com Obtained Digital Token License In Singapore

June 1, 2023
Massive Layoffs At Binance? The Company reveals It Is “Reevaluating” Roles
Crypto Exchanges

Massive Layoffs At Binance? The Company reveals It Is “Reevaluating” Roles

May 31, 2023
Bybit Exits Canada Due To Recent Regulatory Development
Regulation

Bybit Exits Canada Due To Recent Regulatory Development

May 31, 2023
Coinbase Receives A Wells Notice From SEC For Listing Unregistered Securities
Regulation

Coinbase Insider Trading Case Against Wahi Brothers Settled By SEC

May 31, 2023
Binance Exits Canada Due To Rising Regulatory Restrictions In North America
Crypto Exchanges

Binance Will Stop Crypto Services In Japan From November 30

May 30, 2023
Binance Australia Selling Bitcoin $5K Cheaper As Fiat Ramp Closes
Bitcoin News

Binance Australia Selling Bitcoin $5K Cheaper As Fiat Ramp Closes

May 30, 2023
Load More
  • Trending
  • Comments
  • Latest
idmining cloud mining

The New Era of Passive Income Brings Another Amazing Opportunity To Make Money With IDMining

May 5, 2023
Passive Income HappyMiner

Earn Passive Income Cloud Mining With HappyMiner – A Quick Guide!

May 8, 2023
Lost Your Bitcoin To Scammers? Explore The Options For Recovery From Crypto Scams

Lost Your Bitcoin To Scammers? Explore The Options For Recovery From Crypto Scams

May 19, 2023
76 Cryptocurrencies Are Now Prohibited, Beware!

76 Cryptocurrencies Are Now Prohibited, Beware!

May 11, 2023
Sparklo (SPRK) Top Profitable Investments

Rising Market Reputation for Sparklo (SPRK) While Dogecoin (DOGE) And Solana (SOL) Witness Varying Price Trends

June 5, 2023
Best-Performing Altcoins For The Week: XRP, LDO, and LUNC

Best-Performing Altcoins For The Week: XRP, LDO, and LUNC

June 5, 2023
Atomic Wallet Hacked, Users Lost Entire Portfolios

Atomic Wallet Hacked, Users Lost Entire Portfolios

June 5, 2023
sparklo finanace presale

Sparklo (SPRK) Presale Advances As Litecoin (LTC) Prices Explode

June 4, 2023
ADVERTISEMENT
Crypto Mufasa

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Navigate Site

  • Contact
  • Terms Of Service
  • Privacy Policy
  • Crypto Prices
  • Crypto Exchanges
  • Work With Us

Follow Us

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In