X @Kraken

Proof of Reserves Audit Highlights - Kraken's Proof of Reserves audit, completed on June 30, 2025, verifies that all client assets are fully backed on-chain [2] - The audit covers spot balances, margin activity, staked assets, and futures positions, providing a comprehensive view of client engagement [3] - Clients can independently verify their balances were included in the audit using cryptographic proof that respects privacy [3] - The June 2025 report shows every in-scope asset backed by more than 100% of client liabilities [4] - For Bitcoin and stablecoins, the backing cushion is even higher than 100% [4] Transparency and Trust - Transparency is a foundational principle at Kraken, driving product development and system design [1] - Kraken introduced the concept of Proof of Reserves over a decade ago, becoming the first major crypto platform to publish a public Proof of Reserves in 2014 [4] - Kraken's system provides users with tools to verify holdings and obligations, emphasizing self-verification over reliance on institutional trust [5] - Kraken releases audits on a regular cadence, integrating them into the company's operations to earn long-term trust [6] - Kraken aims to increase asset coverage, release more tools, and expand verifiable surface area, emphasizing proof over trust in financial systems [7]