Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange Binance, announced that Binance will soon begin making proof of reserve.
Binance CEO CZ November 8 on FTX deal then on his social media account. in sharing, that all cryptocurrency exchanges should verify their reserves said and Accordingly, Binance will soon start making proof of reserve. explained.
CZ made the following statements on the subject:
All cryptocurrency exchanges should do reserve verification. Banks work with fractional reserves. This should not be the case with cryptocurrency exchanges. Binance will soon start making proof of reserve. Full transparency.