Gate's latest Proof of Reserve (PoR) scheme successfully passed Hacken's comprehensive security review. In a report released on January 3rd, the Hacken team stated that Gate's PoR method achieved a good balance between functionality and complexity, with the review covering critical areas such as dependency management, encryption frameworks, code quality, error handling, and testing. Yevheniia Broshevan, co-founder of Hacken, stated, "Centralized exchanges must embrace this standard to ensure accountability and transparency, and pioneers like Gate have set a benchmark for the entire industry. Proof of Reserve will soon become the standard for custodians, exchanges, borrowers, and stablecoin issuers." The latest data shows that Gate's currently verifiable asset total is $4.3 billion, with a reserve ratio of 115.47%, exceeding user deposits of $584 million.

Binance released its reserve proof for January 2024, with BTC reserve ratio reaching 103.79%, USDT reserve ratio reaching 123.20%, and BNB reserve ratio reaching 106.04%.

OKX announced the release of its 14th monthly Proof of Reserves (PoR) report, which shows that the main assets supporting user funds have reached $14.9 billion. The current reserve rates of OKX's main assets are as follows: BTC: 103%, ETH: 104%, USDT: 103%, USDC: 101%.

Binance Exchange has published its 12th Proof of Reserves report, confirming that it maintains a 100% reserve for XRP, Bitcoin, and Litecoin. This demonstrates the reliability of these digital assets and Binance's commitment to providing a secure trading environment. The report also shows that BUSD reserves account for 133.6%, while USDC reserves account for 103.7% of total customer balances. Maintaining reserves at or above 100% is crucial for ensuring that the exchange can meet its obligations to customers, especially during market fluctuations or withdrawals. Binance's transparency and commitment to maintaining reserves has helped to build trust and credibility with its user base.

Hong Kong-based crypto exchange OKX has released its ninth consecutive monthly proof of reserves (PoR), revealing a balance of $11.3bn in BTC, ETH and USDT. The PoR covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for nine consecutive months across all those assets. The majority of OKX's reserves are stored in highly secure off-chain cold storage. The exchange will continue to publish its monthly PoR while providing a self-audit tool to all users.

June 28 (Cointime) - The team that previously worked with Sam Bankman-Fried on FTX.US's books has performed the Proof of Reserves attestation for TrueUSD. Armanino, the accounting firm that birthed The Network Firm, stopped conducting crypto audits last year, making it difficult for crypto firms to secure audits and reserve attestations from prominent accounting firms. FTX was criticized for its lack of internal controls, with its new CEO appointed for bankruptcy proceedings stating that it "did not keep appropriate books and records or security controls." The recent attestation by The Network Firm showed that TrueUSD has $26,000 worth of funds at U.S. depository institutions, but it did not specify which ones.

The global cryptocurrency exchange OKX released its fifth edition of its proof-of-reserves (PoR) report, which it began releasing in Nov. 2022 in its effort for more transparency in the industry. 

Archblock, the issuer of TrueUSD stablecoin, said it will use Chainlink's proof-of-reserves system to let users verify its reserves are fully collateralized on the blockchain via an automated data feed.

OKX is overcollateralized with a reserve ratio of 104% for bitcoin (BTC), 104% for ether (ETH), and 102% for USDT according to a recently published Proof-of-Reserves report.

Huobi to expand in Hong Kong as it bets on China; PayPal pauses stablecoin project amid Paxos probe; Ethereum co-founder says Ether won’t be classified as a security; Proof of Reserves for policymakers; Egyptian fintech MNT-Halan secures $400M.