Crypto: Crypto.com is latest exchange to publish ‘proof-of-reserves’ page, as industry looks to ease investor jitters

by | Dec 9, 2022 | Stock Market

Crypto.com has become the latest exchange to give clients a snapshot of its reserves holdings, as the crypto industry looks to calm jittery investors after the stunning implosion last month of FTX, one of the world’s largest exchanges. The inclusion of the so-called “proof-of-reserve” page by Crypto.com marks a new transparency push by the crypto industry as its attempt to show clients an ability to withstand turmoil roiling financial markets this year, hitting the crypto industry particularly hard.

Crypto.com was ranked a top-20 crypto exchange by trading volume by CoinMarketCap, which pegged daily transactions at about $180 million on Friday. The platform still might be best known for buying the Staples Arena in Los Angeles for $700 million in November 2021 and working with Matt Damon last fall. …

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