Greetings, travelers! ✋
What is proof of reserves? 🤔
📚 Evening lesson | 31-10-2026 | 20:42 UTC
📍 It’s how a platform shows that it really holds its users’ funds 🔐
📍 Step 1: It lists the total amount it owes its customers 🧾
📍 Step 2: It shows what it holds in public addresses, verified by an external auditor 🔎
📍 Step 3: Each user can verify that their balance is on the list (Merkle tree), without exposing other users’ data ✅
⚠️ It’s a good sign if assets are at least equal to liabilities, but it’s no guarantee: we also need to read the audit.
Binance has announced an updated proof of reserves: we’ll follow the official results 🗓️
Do you verify these proofs, or do you trust without looking? 🤔
🔎 Source: Forbes (30-10-2026)
If you enjoyed this, leave a like to show your support 👍 and subscribe so you don’t miss anything 🔔
⚠️ Not financial advice.
#BinanceSquare #Binance
What is proof of reserves? 🤔
📚 Evening lesson | 31-10-2026 | 20:42 UTC
📍 It’s how a platform shows that it really holds its users’ funds 🔐
📍 Step 1: It lists the total amount it owes its customers 🧾
📍 Step 2: It shows what it holds in public addresses, verified by an external auditor 🔎
📍 Step 3: Each user can verify that their balance is on the list (Merkle tree), without exposing other users’ data ✅
⚠️ It’s a good sign if assets are at least equal to liabilities, but it’s no guarantee: we also need to read the audit.
Binance has announced an updated proof of reserves: we’ll follow the official results 🗓️
Do you verify these proofs, or do you trust without looking? 🤔
🔎 Source: Forbes (30-10-2026)
If you enjoyed this, leave a like to show your support 👍 and subscribe so you don’t miss anything 🔔
⚠️ Not financial advice.
#BinanceSquare #Binance
