Bank of America Says Crypto Exchanges’ Proof of Reserves Have Too Many Shortcomings

In addition, proof of liabilities is required to determine leverage and the safety of assets, and proof-of-reserve procedures often rely on third-party audit firms that can be manipulated or “may even be created by the trading platform itself,” the note added. And, even if users notice asset-liability mismatches, there is no stop button.

Source

Spread the love

Related posts

Leave a Comment