The CEO of a popular exchange released a Proof-of-Reserves that reveals the second largest holding of its reserves is in Shiba Inu.
The downfall of the FTX exchange, from the second-largest exchange to bankruptcy, has increased the demand for transparency from crypto exchanges.
The blockchain oracle platform, Chainlink, presented a protocol dubbed ‘Proof-of-Reserve’ to enable reliable and timely monitoring of reserve assets. It performs automated audits to provide transparency to users.
Kris Marszalek, the founder and CEO of Crypto.com, released a dashboard of its Proof-of-Reserves that shows Shiba Inu (SHIB) as the second largest reserve holding. The total reserves with the exchange are worth over $2 billion, out of which it holds almost $570 million in SHIB.
Its largest allocation is in Bitcoin, worth nearly $900 million, and makes up over 30% of the portfolio. Whereas the third largest allocation is in…
