Crypto.com Releases Cold Wallet Addresses of Select ‘Largest Assets’

[forex4you]

Crypto.com Releases Cold Wallet Addresses of Select 'Largest Assets'

<p class="MsoNormal">Crypto.com,
a Singapore-based cryptocurrency exchange, has published the cold wallet
addresses of some of the largest assets on its platform. The exchange <a href="https://crypto.com/company-news/transparency-first" target="_blank" rel="nofollow">announced</a>
on Friday that the wallets consist of Bitcoin, Ether, ERC20 and other
cryptocurrencies. </p><p class="MsoNormal">The
exchange, however, noted that the assets "represent only a portion of our
reserve," adding that combined with other digital assets, the company boasts of
a reserve that stands at approximately USD 3 billion. Crypto.com further
disclosed that the cold wallets contain about 53,024 BTC and 391, 564
ETH. </p><p class="MsoNormal">According
to Crypto.com, the BTC wallet addresses include: </p><ul><li>bc1qpy4jwethqenp4r7hqls660wy8287vw0my32lmy </li><li>3LhhDLBVWBZChNQv8Dn4nDKFnCyojG1FqN</li><li>3QsGsAXQ4rqRNvh5pEW55hf3F9PEyb7rVq</li><li>bc1qr4dl5wa7kl8yu792dceg9z5knl2gkn220lk7a9</li><li>bc1q4c8n5t00jmj8temxdgcc3t32nkg2wjwz24lywv</li><li>14m3sd9HCCFJW4LymahJCKMabAxTK4DAqW</li></ul><p class="MsoNormal">The other wallets, that
contain ETH, ERC20 and other cryptocurrencies, are:</p><ul><li>0x72A53cDBBcc1b9efa39c834A540550e23463AAcB</li><li>0x7758e507850da48cd47df1fb5f875c23e3340c50</li><li>0xcffad3200574698b78f32232aa9d63eabd290703</li><li>0x6262998Ced04146fA42253a5C0AF90CA02dfd2A3</li></ul><p class="MsoNormal">Meanwhile, Binance on
Wednesday also published the cold wallet addresses and balances of six of the
600 coins traded on its platform. Details shared by the top exchange showed
that Binance has about 475,000 BTC, 4.8 million ETH, 17.6 billion USDT, 21.7 billion BUSD,
601 million USDC, and 58 million BNB.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/Binance?src=hash&ref_src=twsrc%5Etfw">#Binance</a> published cold wallet addresses and balances for 6 of our 600 coins. More to come. 475K BTC4.8M ETH17.6B USDT21.7B BUSD601M USDC58M BNBThese were public before anyway, but organized together for your ease of viewing.<a href="https://t.co/Jm6dVoDqM5">https://t.co/Jm6dVoDqM5</a></p>-- CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1590693950020472834?ref_src=twsrc%5Etfw">November 10, 2022</a></blockquote><p class="MsoNormal">"As part of Binance's
ongoing commitment to transparency and fostering trust in the ecosystem, we are
sharing details of our hot and cold wallet addresses. This is a starting point while we work to create
a Merkle tree POF that we will share with the community in the next few weeks,"
Binance explained in <a href="https://www.binance.com/en/blog/community/our-commitment-to-transparency-2895840147147652626">a statement</a> published on its website.</p><p class="MsoNormal">Renewed Interest in Proof of Reserves </p><p class="MsoNormal">A Proof of Reserves (PoR) is an independent audit conducted by a third
party that seeks to confirm that a digital asset custodian truly holds the assets it claims
it holds on behalf of its customers. According to cybersecurity firm Halborn, PoR "is a trusted way for users of crypto assets to verify that the balances they hold on exchanges are backed by real assets."</p><p class="MsoNormal">In the Friday statement announcing the cold wallets, Crypto.com harped on the importance of
PoR for crypto exchanges, noting that its PoR "is underway."</p><p class="MsoNormal"> The exchange urged
its users to expect "a full audited Proof of Reserves" from it "in the next
couple of weeks, adding that the audit will confirm its "full 1:1
reserve of all our customer's assets."</p><p class="MsoNormal">"We share the belief
that crypto platforms should be required to publicly share proof of reserves. We
are already working to retain the services of a reputable auditor to assess and
publish our proof of reserves," Crypto.com explained.</p><p class="MsoNormal">Earlier on Wednesday,
Kris Marszalek, Crypto.com's CEO in a Twitter post emphasized the importance of
proof-of-reserves, noting that "Crypto.com will be publishing our audited proof
of reserves." </p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves and <a href="https://t.co/pFc4Pz9nFR">https://t.co/pFc4Pz9nFR</a> will be publishing our audited proof of reserves.</p>-- Kris | Crypto.com (@kris) <a href="https://twitter.com/kris/status/1590504912974417921?ref_src=twsrc%5Etfw">November 10, 2022</a></blockquote><p class="MsoNormal">Meanwhile, on Thursday,
Binance CEO Changpeng Zhao also called for proof of reserves among crypto exchanges. Zhao also announced that "Binance will start to do proof-of-reserves soon." </p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">All crypto exchanges should do merkle-tree proof-of-reserves. Banks run on fractional reserves. Crypto exchanges should not.<a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@Binance</a> will start to do proof-of-reserves soon. Full transparency.</p>-- CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1590055819416330240?ref_src=twsrc%5Etfw">November 8, 2022</a></blockquote><p class="MsoNormal">The renewed interest in
proof-of-reserves comes after <a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank">FTX's liquidity crisis</a> pushed the Bahamas-based
cryptocurrency exchange, once described as <a href="https://www.financemagnates.com/cryptocurrency/news/ftxs-2021-revenue-jumped-1000-to-1-billion/" target="_blank">the fastest-growing</a> crypto exchange,
<a href="https://www.financemagnates.com/cryptocurrency/troubled-ftx-files-for-bankruptcy-as-ceo-bankman-fried-resigns/" target="_blank">into bankruptcy</a>. </p>

This article was written by Solomon Oladipupo at www.financemagnates.com.

Source: Crypto.com Releases Cold Wallet Addresses of Select 'Largest Assets'