Crypto.com CEO Shares Company’s Crypto Reserve Addresses in the Wake of FTX Bankruptcy

On Nov. 11, 2022, the CEO of Crypto.com Kris Marszalek shared the company’s proof-of-reserves addresses that clasp starring crypto assets similar bitcoin and ethereum. Marszalek says a “proof-of-reserves audit mentation is underway” and the wallet addresses shared are the company’s acold wallets.

Crypto.com CEO Kris Marszalek Shares Company’s Cold Wallet Addresses, Promises Full Audit Soon

On Nov. 8, 2022, amid the illness of 1 of the apical cryptocurrency exchanges worldwide, FTX International, Crypto.com CEO Kris Marszalek told his Twitter followers that it was a “sad time for the industry.” Marszalek besides added that the institution has small nonstop vulnerability to FTX and stressed that his speech “never engaged successful irresponsible lending.”

“Our nonstop vulnerability to FTX meltdown is immaterial: little than $10m successful our ain superior deposited determination for customers’ commercialized execution,” the Crypto.com CEO wrote astatine the time. “That’s precise small compared to our planetary revenues surpassing US$1 cardinal for 2 consecutive years,” helium added.

After explaining connected Nov. 9, 2022, that Crypto.com would supply a database of proof-of-reserves addresses and a afloat audit, 2 days later, Marszalek shared a fig of acold wallet addresses associated with the company’s reserves. The Crypto.com enforcement said:

While the proof-of-reserves audit mentation is underway, we are sharing our acold wallet addresses for immoderate of the apical assets connected our platform. This represents lone a information of our reserves: astir 53,024 [bitcoin], 391,564 [ethereum], and combined with different assets for a full of ~US$ 3.0B.

In the tweets that followed, Marszalek shared a agelong database of the addresses associated with his exchange. The CEO besides said that the squad was moving with Nansen to supply a dashboard that features Crypto.com’s reserve addresses successful real-time. “You tin expect [Crypto.com] to proceed moving successful tone of afloat transparency and stay the dependable manus and a safe, unafraid platform,” Marszalek added connected Friday.

Marszalek’s tweets travel Binance releasing addresses tied to the exchange’s blistery and acold wallets connected Thursday. It besides follows the conversations stemming from a slew of cryptocurrency executives discussing the value of providing proof-of-reserve audits. The proof-of-reserves discussions travel during the aftermath of FTX’s illness arsenic the institution and 130 associated businesses filed for bankruptcy protection connected Friday.

What bash you deliberation astir Crypto.com’s CEO Kris Marszalek publishing the exchange’s reserve addresses? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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