Crypto Exchange CoinDCX Releases Proof Of Reserve For January-March 2023
CoinDCX, a cryptocurrency corporation, has released its Proof of Reserve report for the period January to March 2023. Several crypto exchanges are now publishing the report, which details the results of a third-party audit of a crypto company, in an effort to enhance investor confidence. This has become even more critical after the demise of FTX last year.
CoinDCX has reserves of 199.4 million USDT versus liabilities of 198.5 million USDT as of March 24, 2023. According to the company’s statement, reserves reflect cryptocurrencies held on partner exchanges such as Binance, Huobi, and Bitmex, as well as wallets and related blockchains, whereas user responsibility represents individual users’ crypto holdings.
(With inputs from Shikha Singh)
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