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It should be noted that Binance is planning on offering proof-of-reserves[1], which supposedly would be a signed Merkle tree of liquidity proofs. --- 1: https
by orbz 4y ago
It should be noted that Binance is planning on offering proof-of-reserves[1], which supposedly would be a signed Merkle tree of liquidity proofs.
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1: https://twitter.com/cz_binance/status/1590055819416330240?s=61&t=54MDBcDDljxtM8awI-owNQ https://twitter.com/cz_binance/status/1590055819416330240?s=...
- 2OEH8eoCRo0 4y agoSounds like word salad shit to me. Where are they based? Why should I trust them? It's the next scam.
- lmm 4y agoPractically every crypto organisation has been planning on offering some kind of proof of how good its reserves are, real soon now, right up until it went bankrupt.
- oldgradstudent 4y agoThey CLAIM that they are planning to do that. But even if they do produce that, it can only show the asset side if the balance sheet. Quite a lot of financial failures are a result of off-balance-sheet liabilities.