As well as, proof of liabilities is required to find out leverage and the security of property, and proof-of-reserve procedures usually depend on third-party audit corporations that may be manipulated or “could even be created by the buying and selling platform itself,” the notice added. And, even when customers discover asset-liability mismatches, there is no such thing as a cease button.
Financial institution of America Says Crypto Exchanges’ Proof of Reserves Have Too Many Shortcomings
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