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Easily faked. Take your #Btc off exchanges.https://twitter.com/BitcoinMagazine/status/1590324667474010112
https://twitter.com/maxkeiser/status/1590326119764353024 [Nitter]
The issue is that CEXs can’t do proof of reservesSo 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]
An archive of the article is here. An archive has no paywall, no subscription requirement, and can be easier to read.
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. #91210 https://twitter.com/cz_binance/status/1590055819416330240 [Nitter]
https://twitter.com/maxkeiser/status/1590326119764353024 [Nitter]
https://twitter.com/AntonioMJuliano/status/1590058085002792960 [Nitter]
An archive of the article is here. An archive has no paywall, no subscription requirement, and can be easier to read.
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. #91210 https://twitter.com/cz_binance/status/1590055819416330240 [Nitter]