Grayscale won't be sharing its proof of reserves with customers, citing "security concerns."
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Grayscale, the asset manager running the world’s largest bitcoin fund, said in a statement that it won’t share its proof of reserves with customers.
“Due to security concerns, we do not make such on-chain wallet information and confirmation data publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure,” said a statement Friday.
Following the implosion of FTX and its subsequent bankruptcy proceedings exposing that customer funds were missing, multiple crypto exchanges have jumped to release proof-of-reserve audits in order to assuage investor concerns over the safety of their funds. Others, like Binance, say they soon plan to do so.