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Can Proof of Reserves Prevent Another FTX-Like Collapse?
The collapse of FTX showed investors the risks of trusting an exchange with their assets without knowing how those funds are being managed. Proof-of-reserves systems allow crypto platforms to provide on-chain evidence of the assets they hold, although they do not always reveal the full picture of a company’s liabilities. As more exchanges adopt these systems, can proof of reserves genuinely improve investor confidence, or is greater transparency still needed?
