Binance CEO Introduces CoinMarketCap’s Proof of Reserve Service: Funds Are Not Safe, According To Famous Economist

Binance CEO Changpeng Zhao (CZ) introduced the proof-of-reserve service by CoinMarketCap. The service in question could not escape being the target of harsh comments from analysts.

CoinMarketCap offered by the new proof of reserve feature by Binance CEO introduced. With this new feature, users will be able to see how much reserve assets are held on which exchange and verified or not can confirm.

on-chain This feature, which uses data from information on reserves, wallet addresses and token values It presents many parameters in detail, including All data included in the proof-of-reserve system in 5 minutes one is updating.

On the other hand, the famous economics professor nouriel roubini He doesn’t look at this whole picture positively at all. 20082009 in the years mortgage known for predicting the collapse of the market, and therefore “Dr. Known as “Doom” robini, that the proof-of-reserve system makes no sense and that customer assets are not secure in the event of possible bankruptcy. He claimed.

Economist says that proof-of-reserve system is only used by exchanges and crypto lenders. to pretend to keep their customers’ money safe He described it as a used gimmick. The famous economist recently addressed Binance CEO CZ to North Korean dictator Kim Jong-un. had compared.

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