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.
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?
Take, for example, the Kraken platform, as it provides complete evidence of solvency, and in my opinion, there is no excuse or reason for any CEX not to provide this proof of solvency, If the CEX platforms want to restore the confidence of investors and major companies. after the recent collapse of the FTX platform, which affected the confidence of investors in this industry, so the proof of solvency will undoubtedly be the new standard that must be taken by the CEX platforms, as it is proof that CEX is trustworthy and able to save the money of its deposited users, as they can withdraw it at any time without happening like what happened to FTX, We can know the tests that will show the solvency of the central exchange platforms through a complete guide that is presented through them or through reliable companies that are the third party that conducts these audits.