The cryptocurrency exchanges Kraken, Coinbase, and Gate.io all post proof of reserves along with liabilities
In the course of an audit, their liabilities are analyzed, and the results of that analysis are included in the proof-of-reserves.
Kraken, Coinbase, and Gate.io, three of the most prominent cryptocurrency exchanges, were the first exchanges to disclose proof-of-reserves as part of their auditing processes. These proofs included liabilities.
After the failure of the FTX, the CEO of Binance, Changpeng Zhao, proposed that all exchanges should use Merkle-tree proof-of-reserves.
In spite of the fact that Binance was the one who started the movement, the company has not mentioned its liabilities in its proof-of-reserves.
Binance’s plan did not contain any discussion of the company’s obligations. However, there was widespread consensus among participants that it was essential to maintain complete openness. The Merkle-tree proof of reserves that Bitfinex provided did not include any disclosure of the company’s liabilities.
MexcGlobal and ByBit did not disclose their liabilities either, although both companies have said that they would provide proof of reserves in the near future.
Both Crypto.com and Huobi have already made their proof-of-reserves available to the public. Additionally, the two individuals said that they are in the process of compiling a report on their obligations and would shortly publish it.
On the other side, OKX and Mexc global are working on issuing comprehensive proof-of-reserves at the moment.
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