In the wake of the week’s events, leading exchange and crypto services provider Crypto.com will publish audited proof of reserves.
We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves and https://t.co/pFc4Pz9nFR will be publishing our audited proof of reserves.
— Kris | Crypto.com (@kris) November 10, 2022
The crypto markets are still reeling from the failure of FTX, but there is no reason to think that the industry as a whole will go the same way FTX and SBF did.
Much like the early days of the US capital markets, the crypto markets simply don’t have an evolved regulatory structure, or central banks to backstop markets. In a situation like this, the only thing that can assure confidence is full transparency, and independent oversight.
Make no mistake, there will be more fallout in the crypto sector, but established players like Crypto.com understand that in order to avoid further…
