Proof of Reserves: Has Crypto Really Changed Since FTX Collapse?
Key Notes
- Major exchanges like KuCoin, OKX, and Kraken now compete on audit transparency following the FTX crisis.
- Point-in-time reserve snapshots cannot detect off-chain liabilities or corporate debt that could bankrupt exchanges.
- Cryptographic verification represents industry progress, but users must view PoR as starting point for due diligence.
In the world of crypto, trust is everything, whether you like it or not. Recent Proof-of-Reserves (PoR) announcements from exchanges like KuCoin and Coinex on July 10th and OKX on July 9th, coupled with ongoing reports from pioneers like Kraken, signal a profound industry shift.
That wave of transparency is a direct response to the trust shattered by the catastrophic
