• About
  • FAQ
  • Earn Bitcoin while Surfing the net
  • Buy & Sell Crypto on Paxful
Newsletter
Approx Foundation
  • Home
    • Home – Layout 1
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Approx Foundation
No Result
View All Result
Home Regulation

Kraken successfully passes November 2023 Proof of Reserves

approx by approx
December 22, 2023
in Regulation
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


This most recent Proof of Reserves covered the most widely held cryptocurrencies: BTC, ETH, USDC, USDT, DOT, ADA and XRP. It also included the open margin positions, futures balances and on-chain staked amounts of those assets. In total, approximately 78% of all clients’ cryptoassets held on the platform were covered by this most recent attestation. 

We pioneered the Proof of Reserves process in 2014 and have committed to undertaking it regularly since January 2022. 

Why this matters

Proof of Reserves is still a relatively new process; it has no universally accepted definition or requirements. At Kraken, Proof of Reserves includes an independent third party attestation to prove we back your account holdings with in-kind, fully reserved assets. 

As with our previous Proof of Reserves, we use a Merkle Tree to represent individual account balances identifiable by an encrypted, unique hash (a string of characters). We then successively hash these records until a single Merkle root hash represents the sum total of client balances covered. This means account balances can be easily verified as included in the Proof of Reserves without having to expose the underlying, unencrypted data set. 

In this Proof of Reserves, clients can now download the full path within the Merkle Tree, from their account to the root. They can review its construction, gain a better understanding of how Kraken’s Proof of Reserves process works and personally verify the value and validity of the root hash included in the report. 

Kraken’s Proof of Reserves includes the following:

  • The total sum of all client liabilities (or balances)
  • A means for clients to cryptographically verify that their account details and individual balances were included in the total sum
  • Attestation from a third party who has verified Kraken has full control over on-chain assets in excess of these liabilities

We engaged The Network Firm, a registered CPA firm specializing in accounting and attestation services for crypto businesses, to attest to the fact that we had full control over the wallets holding client balances. 

How do I find out more?

If you haven’t already, we encourage you to sign in to Kraken and self-verify your balances were included in this review. Please bear in mind that this Proof of Reserves only covers assets that were on the platform on November 30, 2023. Any assets held on the platform before or since that date are not included in this report. 
For a detailed runthrough, please check out The Network Firm’s full report accessible via the verification portal. You can also check out our What is Proof of Reserves? A Beginner’s Guide blog post. If you have any further questions, please reach out to Kraken support.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.



Source link

Related articles

SharpLink’s $360 million ETH binge fuels speculation on what comes next

SharpLink’s $360 million ETH binge fuels speculation on what comes next

August 26, 2025
Solana, BNB, Ethereum to get $1.75B injection as global companies accelerate crypto treasury buys

Solana, BNB, Ethereum to get $1.75B injection as global companies accelerate crypto treasury buys

August 26, 2025
Share76Tweet47

Related Posts

SharpLink’s $360 million ETH binge fuels speculation on what comes next

SharpLink’s $360 million ETH binge fuels speculation on what comes next

by Moussa
August 26, 2025
0

SharpLink, a company with a growing focus on Ethereum, has continued with its aggressive ETH accumulation, according to an Aug....

Solana, BNB, Ethereum to get $1.75B injection as global companies accelerate crypto treasury buys

Solana, BNB, Ethereum to get $1.75B injection as global companies accelerate crypto treasury buys

by Moussa
August 26, 2025
0

More companies worldwide are rushing to add digital assets to their treasuries even as the market retraces. $1.75 billion will...

Bitcoin slump triggers $811 million losses as traders brace for $100K test

Bitcoin slump triggers $811 million losses as traders brace for $100K test

by Moussa
August 26, 2025
0

Bitcoin’s brief dip below $110,000 in the past 24 hours triggered one of the heaviest liquidation rounds in recent times.According...

Bitcoin consolidates as liquidity flows shift to Ethereum and broader altcoin markets

Bitcoin consolidates as liquidity flows shift to Ethereum and broader altcoin markets

by Moussa
August 26, 2025
0

Bitcoin (BTC) consolidates near current levels as capital inflows extend along the risk curve toward Ethereum and broader altcoins, according...

Aave reaches $41.1 billion TVL record, equivalent to being the 54th largest US bank

Aave reaches $41.1 billion TVL record, equivalent to being the 54th largest US bank

by Moussa
August 25, 2025
0

Aave reached an all-time high total value locked (TVL) of $41.1 billion on Aug. 24, positioning the decentralized lending protocol...

Load More

youssufi.com

sephina.com

[vc_row full_width="stretch_row" parallax="content-moving" vc_row_background="" background_repeat="no-repeat" background_position="center center" footer_scheme="dark" css=".vc_custom_1517813231908{padding-top: 60px !important;padding-bottom: 30px !important;background-color: #191818 !important;background-position: center;background-repeat: no-repeat !important;background-size: cover !important;}" footer_widget_title_color="#fcbf46" footer_button_bg="#fcb11e"][vc_column width="1/4"]

We bring you the latest in Crypto News

[/vc_column][vc_column width="1/4"][vc_wp_categories]
[/vc_column][vc_column width="1/4"][vc_wp_tagcloud taxonomy="post_tag"][/vc_column][vc_column width="1/4"]

Newsletter

[vc_raw_html]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[/vc_raw_html][/vc_column][/vc_row]
No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2024 APPROX FOUNDATION - The Crypto Currency News