BitMEX, Kraken top proof-of-reserves scores for exchanges

• BitMEX and Kraken cryptocurrency exchanges received the highest scores in proof of reserve proof.

• Binance ranked lower for incomplete PoR among other metrics.
• Nic Carter says PoR momentum is good for the cryptocurrency and a silver lining to get out of the FTX turmoil.

BitMEX and Kraken have received high scores for Proof of Reserve Proof of Reserve ratings from major cryptocurrency exchanges.

This is from one of the most popular Bitcoin proponents, Nic Carter.

In a Medium article focusing on scorelists and rankings of several major cryptocurrency trading platforms, Carter points to the latest PoR results and some trades looking to expose evidence of cryptocurrency reserves. Provides insight into why places still hold so much cryptocurrency. She strives to provide the guarantees the market demands.

While Kraken and BitMEX rank highest, Binance, the world’s largest crypto platform, scores relatively low. However, according to cryptocurrency analysts, the move to introduce PoR is definitely on the right track. He sees the momentum as a good signal for cryptocurrencies, stating:Genuine silver lining from the FTX debacle

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“There is a good chance that currency confidence will make a big step forward and we will emerge from this crisis.,” he I have written His “Status of Reservation Statements as of the End of 2022”.

BitMEX, Kraken Rank High in Various Metrics

BitMEX received the highest possible score of 5 out of 6 when looking at cryptocurrency exchange reserve proofs via metrics such as platform-provided assets, covered deposit estimates, and liability disclosures. .

Crypto platform Kraken came in second, followed by Deribit, Kucoin, and OKX in third to fifth place.

Exchange reserve scores and ranking evidence.Source: Nick Carter on MediumWhile some platforms scored high, exchanges scored low as Binance’s reserve evidence was mostly “imperfect”. In a comment on this, Carter wrote:

“Binance’s first PoR does not give a strong guarantee. It only covers Bitcoin, which represents only 16.5% of client assets.You can verify that individual users are included in the responsibility set, but the entire responsibility list is not included, making it difficult for a third party to verify your steps