RT BSCN (@BSCNews)🔎 TRANSPARENCY ON-CHAIN!@bitgetglobal adopts @chainlink Proof of Reserves for BGBTC. Every token, fully backed. Here’s what it means 👇https://t.co/kw7VQfjly2 ...

🔎 TRANSPARENCY ON-CHAIN!@bitgetglobal adopts @chainlink Proof of Reserves for BGBTC. Every token, fully backed. Here’s what it means 👇https://t.co/kw7VQfjly2 ...

Crypto Holdings - Bybit's user BTC holdings increased by 561% to 58900 BTC (+3130 BTC) [1] - Bybit's user ETH holdings increased by 659% to 604000 ETH (+37300 ETH) [1] - Bybit's user USDT holdings decreased by 475% to 485 billion USDT (-242 million USDT) [1] Proof of Reserves - Bybit released its 25th Proof of Reserves (snapshot on August 14) [1]

Bitcoin Custody & Security - BitGo secures billions in Bitcoin, highlighting the importance of institutional-grade custody solutions [1] - Multi-signature (Multisig) and cold storage are critical for securing Bitcoin assets [1] - Proof of reserves is essential for shaping Bitcoin's future and increasing transparency [1] - Industry failures highlight the need for robust controls and security measures in Bitcoin custody [1] - Insurance, risk management, and wallet segmentation are important aspects of Bitcoin custody [1] BitGo's Business & Strategy - BitGo's development driven by early discovery of Multisig [1] - Custody extends beyond storage to include staking and settlement services [1] - Fiat custody and banking integration are key components of BitGo's offerings [1] - BitGo operates a global network as a qualified custodian, offering multi-jurisdictional benefits [1] Market Outlook & Challenges - Lending crises provide lessons for the digital asset market [1] - Nation-state custody presents unique challenges [1]

Proof of Reserves & Transparency - Backpack Exchange commits to daily Proof of Reserves, aiming for near real-time proofs in the future [1][5] - The exchange's ledger is built on a global linear log of authenticated transactions, making it verifiable [3][4] - Backpack's Proof of Reserves covers all "physical" balances, including available balances, open orders, and unborrowed lends [9] - All balances in the order book are physical, ensuring liquidity is real and anchored by the public chain [10] - Perpetual Futures on Backpack realize PnL in real time, which is accounted for in the Proof of Reserves [11] Technology & Implementation - The exchange is fully verifiable, with every state transition executable and matchable against the publicly attested ledger [5] - State integrity attestations are a key step in Backpack's journey to trust minimization [3] - Fiat currencies in banks require minting "deposit tokens" to integrate with the token-based system [12] - ZK proof code is public for anyone to see, clone, and run [13] Future Development & Considerations - The company acknowledges the need to publish code and data publicly to enhance the "trust me bro" aspect [6] - Comprehensive analysis of reserves should be paired with robust margin risk analysis [10]

Transparency and Security - Backpack 将发布每日零知识储备证明，提供实时的、保护隐私的链上透明度 [1] - 该系统由 OtterSec 构建和验证，确保用户资产保持安全隔离且可独立验证 [1]

Security & Transparency Initiatives - MEXC launches Proof of Trust page to enhance security and transparency [1] - MEXC commits to building one of the most secure and transparent exchanges [1] Fund Protection - MEXC establishes a $100 million Guardian Fund [1] - MEXC implements 1:1 Proof of Reserves [1] - MEXC provides a Futures Insurance Fund for market protection [1]

Community Communication - The company addresses potential misunderstandings or misinterpretations of monthly Proof of Reserve (PoR) data within the community [1] - The company advises against listening to Fear, Uncertainty, and Doubt (FUD) [1] - The company directs users to a blog post for a clearer understanding of how Market Makers (MMs) operate on the exchange [1]

Binance Proof of Reserves - Binance releases its 33rd Proof of Reserves report [1] Cryptocurrency Market Performance Since July - $BTC is up by 2.99% [1] - $USDT is up 0.87% [1] - $ETH is down 9.84% [1]

Binance has released its 33rd Proof of Reserves report (snapshot date: August 1), showing user BTC holdings at 591K BTC, up 2.99% from the previous snapshot (July 1) with an increase of 17.1K BTC; user ETH holdings at 4.555 million ETH, down 9.84% with a decrease of 496K ETH; and user USDT holdings at 29.85 billion USDT, up 0.87% with an increase of 258 million USDT.https://t.co/pIqA2Umosp ...