Kraken has conducted an independent audit showing it has nearly $20 billion worth of BTC and ETH. It will also allow clients to verify their accounts using third-party services.
This is the second independent audit conducted on the exchange since 2014. According to Armanino, the audit took several years of work to reconstruct a Merkle tree – a mathematical data structure that encapsulates hashes of different blocks of data – and prove every coin was on spot.
The audit comes as crypto companies are facing heavier scrutiny from regulatory bodies worldwide. According to Jeremy Welch, Chief Product Officer at Kraken, the exchange plans to conduct public proof of reserve audits annually. Security and transparency for our customers has been at the core of our culture as a company, and the core of our practices and operations from the very beginning. Regular Proof of Reserves audits will demonstrate that, for Kraken, our client security and safety are a top priority.” —Said Welch.Now the exchange is implementing auditing standards to allow clients to verify that their BTC and ETH balances are backed by real assets held in the exchange’s custody.
Kraken has been one of the most active crypto companies in the industry as of now. The veteran US exchange is working on an with new features, such as allowing customers to use non-fungible tokens as collateral to borrow funds against.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Price analysis 2/4: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAXBTC and altcoins finally broke above their respective overhead resistance levels, but the actions of traders over the next few days will determine whether bulls are back in control.
Weiterlesen »
BTC, ETH, XRP, ADA and BNB Price Analysis for February 5Which coin can show a more prolonged rise? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX CardanoStiftung ADAcoin_ Cardano cardano
Weiterlesen »
Texas BTC Miners Shut Down as Arctic Blast Approaches | CoinMarketCapThe state is hoping to avoid a repeat of the carnage seen in February 2021, when widespread power outages caused extensive disruption.
Weiterlesen »
BTC/USD Forecast: Bitcoin Has Quiet SessionBitcoin had a very quiet trading session as the 36,800 level seems to be offering a little bit of stabilization. btc bitcoin CryptocurrencyMarket
Weiterlesen »
Bitcoin Rebounds to $38K, Here's Who Is Buying BTCICYMI: after a near 6% drop, Bitcoin managed to recover above $38,000 BTC $BTC
Weiterlesen »