Soon the publication of proof of reservations?

This November 10, CEO Kris Marszalek commented on the FTX case. He stated : ” This is a critical moment for the entire industry. Transparency is more important than ever, and the safety of users and funds remains the priority. This requires a total and collective commitment“. At the same time, he announced what the exchange is committed to doing to restore trust.

Efforts to regain user trust

In publication on Twitter this November 10, CEO Kris Marszalek said that “ transparency is more important than ever“. In this context, he revealed:We share the belief that it should be necessary for crypto exchanges to publicly share proof of reserves, and publish our audited proof of reserves“. CEO’s post on Twitter

After the price of the native token of the FTX exchange collapsed, several crypto companies began to commit to more transparency. For example, Changpeng Zhao, the CEO of Binance, said that his company plans to publish an overview of the state of its reserves. He indicated that for this purpose, a verification system for proof of reservations will soon be launched.

With Kris Marszalek’s recent post, the exchange is the latest company in the industry to commit to the publication of evidence of audited reserves. “Restoring trust in our category will take time, but it is important.It is incumbent on us to send a strong message to the world that there are trustworthy crypto platformsKris said.

What about suspension of USDC and USDT trading on Solana?

The official’s remarks come after the exchange announced a temporary halt to USDC and USDT trading on Solana. The platform sent an email to its customers to tell them that they cannot no longer do USDC and USDT withdrawals and deposits on the blockchain, until further notice. gave no details on why it decided to suspend these transactions. However, he said:You can withdraw USDC and USDT at any time.But using other supported networks including Cronos and Ethereum“.

The FTX case shook the entire digital asset space. LCrypto companies are trying everything to regain user trust. They try to show that crypto is not all bad, on the contrary, it still has a lot to offer.

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