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

Nine prominent exchanges said they will publish proof-of-their-reserve holdings in the next month.

Nine exchanges – Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit and Bybit– have separately issued statements that they would publish their Merkle tree reserve certificates to increase transparency. (Jason Dent/Unsplash)
Nine exchanges – Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit and Bybit– have separately issued statements that they would publish their Merkle tree reserve certificates to increase transparency. (Jason Dent/Unsplash)