2023-11-27 17:55:40

Krakens Jesse Powell Says Hell Call Out Problems in Crypto, Weighs In on Exchanges Showing Proof of Reserves - The...

The Daily Hodl

By Henry Kanapi

Kraken founder and former chief executive Jesse Powell says he’s looking to publicly point out problems in the crypto space, starting with the issue of exchanges sharing their proof of reserves.

Following the high-profile collapse of FTX, crypto exchanges have been scrambling to provide evidence of a one-to-one ratio of reserves to investors assets in an effort to increase transparency.

According to Powell, a proof-of-reserve audit is valid if it comes with proof of client balances and wallet control.

#ethereum #jessepowell #datastructures #centralizedplatform #buterin

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Black Swan Author Says Coinbase Is Worthless

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