Crypto.com Reveals Partial Proof Of Reserves To Dispel Insolvency Rumors

Pratik Bhuyan
November 11, 2022 Updated July 22, 2025
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Crypto.com, has become the latest crypto exchange to publish partial “Proof of Reserves,” amid the downfall of rival exchange FTX. As fear of crypto contagion from the FTX meltdown spreads, Kris, CEO of the exchange, shared links to a Nansen dashboard that shows more than $2 billion in reserves, demonstrating his eagerness to remain transparent in the industry.

He stated that while the complete Proof of Reserves audit was underway, he would be sharing their cold wallet addresses for some of the top assets on the Crypto.com platform.

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Partial Data Shows Interesting Insights

As per the data shared on Nansen, Bitcoin accounts for 30.67% of the total reserves, while Ether is 17.32%. Another 19.77% of reserves are held in DOGE-inspired SHIB cryptocurrency. Only 11.99% of the reserves are held in stablecoins like USDC and USDT.

Read More: Crypto Exchanges Rush To Provide Proof-of-Reserves Following FTX Crisis

Kris further went on to add,

“This represents only a portion of our reserves: about 53,024 BTC, 391,564 ETH, and combined with other assets for a total of ~US$ 3.0b”

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Origin of Proof Of Reserves

This comes after, CZ, CEO of Binance, touched on the issue of crypto exchanges using fractional reserves like traditional banks.

Instead, he suggested using “Merkle Tree Proof of Reserves” in order to remain transparent in the public domain. Merkle Trees, in reality, refers to a data structure authenticated by cryptographic means. Presumably, this way of disclosing Proof of Reserves represents an audit trail that cannot be tampered with.

Read More: Binance To Start Proof Of Reserves For Full Transparency

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Market Reaction

Crypto.com’s native toke, CRO, fell sharply after Kris announced his partial disclosure statement on Crypto.com’s reserves. Currently, CRO is trading at $0.08, down by1.4% in the past 1 hour at the time of writing.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now - he has seen it all.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.