CandleFocus Kraken Completes 2024 Proof of Reserves, Verifying Over $21.5 Billion in Client Assets
2024-11-05
Author: Content Editor
Cryptocurrency exchange Kraken has announced the completion of its 2024 Proof of Reserves, which provides independent verification that client account balances are backed by onchain assets. The attestation, conducted by a third-party accountant, covers a total value of over $21.5 billion in client assets, including popular cryptocurrencies like BTC, ETH, SOL, USDC, USDT, and XRP. The Proof of Reserves includes details on client liabilities, a method for clients to verify their account balances, and an attestation confirming Kraken's control over the onchain assets. To ensure authenticity, Kraken has engaged a registered CPA firm to attest to its control over the wallets holding client balances.
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