Proof Of Reserves Is The Only Way Forward For Crypto Exchanges, According To KuCoin CEO

Johnny Lyu, the CEO of crypto exchange KuCoin was the first to announce ‘Proof of Reserves,’ after the FTX Token FTT/USD debacle sent shockwaves through the cryptocurrency industry. In an interaction with Benzinga, Lyu said that ‘Proof of Reserves’ is a direct reaction to the user’s panic as they remain locked out of their funds— with several exchanges suspending withdrawals. “This is the … Continue reading Proof Of Reserves Is The Only Way Forward For Crypto Exchanges, According To KuCoin CEO