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Crypto.com CEO Promises to Publish Company's Proof of Reserves

Crypto.com CEO Promises to Publish Company's Proof of Reserves

Kris Marszalek believes that all crypto exchanges should publicly share their proof of reserves.

One of the founders and CEO of crypto exchange Crypto.com, Kris Marszalek, has promised to share the company's proof of reserves.

According to the Twitter thread published on November 9th, Marszalek believes that crypto platforms should "publicly share proof of reserves." The CEO added that it is critical for crypto firms to be completely transparent and ensure the safety of user funds.

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Crypto.com founder and CEO wrapped up its Twitter thread by stating:

Restoring trust in our category will take time, but it’s incumbent on us to send a strong message to the world that there are trustworthy crypto platforms.

The Crypto community started talking louder about crypto exchanges publicly sharing their proof of reserves after, on November 8th, Binance’s CEO Changpeng Zhao posted a tweet claiming that Binance will soon start using a Proof of Reserve audit system.

It is worth noting that Crypto.com has been dealing with some issues. On November 9th, the Singapore-based crypto exchange temporarily halted withdrawals and deposits of Tether (USDT) and USD Coin (USDC) on the Solana network.

Crypto.com users received a short email claiming that withdrawals were suspended due to “recent industry events.” However, the company assured that investors can still withdraw their USDT and USDC using other networks, such as Ethereum or Cronos.

In regards to the matter, a Crypto.com spokesperson noted that any unreceived deposits considering USDT and USDC through the Solana network “will be refunded without a fee for the next two weeks.” However, the spokesperson avoided commenting on the situation in greater detail.

In other news, the company has recently partnered with Visa to host a digital art Visa Masters of Movement auction. Visa Masters of Movement is “a first-of-its-kind hybrid experience featuring a pre-event NFT auction and immersive activation for fans at FIFA World Cup Qatar 2022™.”

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.



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