Proof of reserves is meant to encourage transparency amongst exchanges by getting them release a public cryptographic proof that users assets are safe in their possession.
It's no secret that the crypto space is riddled with uncertainties– the bitter bankruptcy of FTX cannot be forgotten in a hurry. While some leading exchanges have responded by reassuring users having released their proof of reserves, others have insisted that factors like cost, security and competition won't let them release theirs.
Which begs for the question—do you feel safe when you use such exchanges?
