After the collapse of FTX in late 2022, many crypto exchanges, custodians, and ETF providers started embracing proof-of-reserves to build trust.
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Michael Saylor warns of On-Chain POR Risk Security Breaches
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Binance, Bitfinex, Kraken, Bitwise, alongside other crypto companies, began offering proof-of-reserves disclosures after the 2022 collapse of FTX in an effort to rebuild user trust through on-chain transparency
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