Crypto Exchange Platforms Continue to Reassure Users with Proof-of-Reserve Audits amid FTX market collapse

The Binance and FTX almost shook the entire crypto industry last week. Walking out of the deal after almost closing it Binance ultimately emerged victorious while FTX collapsed and filed for bankruptcy.

Now Crypto exchanges are publicly releasing their proof-of-reserves (POR) audit to increase transparency and reassure users. Most of the major crypto exchanges have published their PoR intending to regain the users’ trust. This has been a positive change after a huge market situation with one of the leading Crypto Exchange platforms.

Updated List of their  holdings by Major Crypto Exchange Platforms

1) Binance

Earlier Binance shared a snapshot of the partial holding of major assets by the biggest Crypto Platform by volume. Chaopeng Zhao (CZ) tweeted that Binance had published cold wallet addresses and balances for six of their 600 coins with more to come.

Binance released a statement stating they have published their PoR disclosing $69B in assets.

In CZ’s Ask-Me-Anything (AMA) session, he mentioned that he spoke to Vitalik Buterin, who “wants to come up with some type of new proof-of-reserves protocol and use Binance as a guinea pig, or the first test case.” He further added, “He’s quite excited about it, and we are connecting our teams to do that. Roughly, we can expect a timeline of about a couple of weeks, and this is the reason why we published all our cold wallet addresses so that people can see them directly.”

Based on the blockchain analytics platform Nansen, Binance holds total assets worth over $51B.

2) OKX

OKX tweeted that they have worked together with Nansen, the blockchain analytics platform to come up with a portion of their POR and wallet addresses. CEO of OKX, Jay Hao, posted stating that OKX will continue to collaborate with partners, starting with the Nansen dashboard and PoR with a 3rd party auditor.

Based on the blockchain analytics platform Nansen, OKX holds total assets worth a bit more than $6B.

3) Crypto.com

Kris Marszalek, CEO of Crypto.com tweeted that their cold wallet addresses some of their top assets on the platform. He further confirmed that a fully audited PoR will be coming in the next couple of weeks. According to Nansen CryptoCom holds total assets approx $2.4B.

4) Deribit

Deribit retweeted Nansen’s tweet on their current holdings, then a day later they included the link to the Nansen dashboard in their tweet. Based on the blockchain analytics platform Nansen, Deribit’s total assets are worth over $1.3B.

5) Bitfinex

Bitfinex announced the release of their PoR via a tweet; available on their GitHub. Based on Nansen a blockchain analytics platform, Bitfinex’s total assets are worth close to $8B.