Quote from: ChillyMatthew on Today at 02:10:01 PM

GM crypto fam.

So, after the FTX debacle, big exchanges rushed to prove their reserves, and that ended up with Mazars halting all work with crypto firms.

Quote

Mazars has paused its activity relating to the provision of Proof of Reserves Reports* for entities in the cryptocurrency sector due to concerns regarding the way these reports are understood by the public,

What I dont uderstands is, how can we know which tests will demonstrate the solvency of a centralized crypto exchange? Who is to say that funds cannot be shifted at any time, like SBF did from FTX to Alameda?

Source:

https://app.getresponse.com/view.html?x=a62b&m=BVHuSm&mc=9M&s=BtgXWnG&u=QcLhh&z=ECiRVqJ&

To avoid such scams with the FTX exchange, you need to prohibit the exchange from managing client deposits. For this violation 1,000,000 life sentences. I used to be an anarchist too, but today everyone understands that cryptocurrency exchanges should be under the control of regulators.