Cryptocurrency exchange platform crypto.com which has been recently under the critics for not being completely transparent with its Crypto platform users has now finally published its proof of reserve statements at the crypto.com platform. This new statement allowed the users at crypto.com to self-verify all of their assets into the directory of the Crypto.com platform.
Along with revealing the audited proof of Reserve statement crypto.com has ensured to all of its users that the platform has enough assets in the form of liabilities. The company mentioned this proof of Ages treatment on the support page of the platform.
The assets in this proof of Reserve show that crypto.com is having 102% of bitcoin assets with them along with some other Crypto assets like 101% of Ethereum assets. crypto.com is also having 102% assets of USD-backed stablecoin USDC.
What are the assets with Crypto.com as per its proof of reserves?
Crypto.com is also having enough reserves of some other Crypto assets like Tether-issued and USD-backed stablecoins USDT, Along with other cryptocurrency assets like Ripple-issued XRP along with some other famous coins invented as memes like the Dogecoin and Shiba Inu. Along with these crypto assets crypto.com is also having assets from Chainlink’s LINK and Decentraland’s MANA. For all of these cryptocurrency assets at crypto.com. The company has mentioned that they are having 100% reserves as liquidity support for all of its users at crypto.com.
The process of auditing the proof of reserves of crypto.com were carried out by an international accounting audit and taxation firm Mazars Group. Cryptocurrency exchange platform crypto.com has recently paused the withdrawal request of Crypto assets in the Solana network after the fall of cryptocurrency exchange platform FTX last month. The issue of pausing the withdrawal request at crypto.com has caused concern in cryptocurrency communities regarding the foundations and stability of Crypto.com.
After releasing the proof of reserves statement the teams of crypto.com has assured all of its users that the cryptocurrency exchange platform crypto.com is maintaining all the assets along with the equal liability of all the crypto assets in the platform and is a trusted platform for all the withdrawal request of Crypto users.
The CEO of crypto.com Kris Marszalek after publishing the proof of Reserve statement mentioned that crypto.com is completely committed to all of its users at crypto.com and is providing a safe, secure, and compliant means at its platform for all the digital transactions on its cryptocurrency exchange platform crypto.com.
