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CoinDCX Announces Proof Of Reserves With Assets Worth $125 Million

Today, CoinDCX, the Coinbase-backed cryptocurrency exchange, released its proof-of-reserves in association with Nansen.

Sumit Gupta, the founder of CoinDCX, also stated in an official statement that they would be working with CoinMarketCap to launch their recently added proof-of-reserves tracker.

Through disclosure, the information shows CoinDCX‘s entire net worth, token and protocol allocation, asset value, and cumulative profit and loss.

When discussing the exchange’s following stages, Sumit mentioned developing a unique algorithm that would assess which currencies should be listed on the market.

The company is anticipated to include further actions in its roadmap aimed at boosting openness and broadening reporting of numerous metrics, including their Proof of Liability.

This coincided with a rising global demand from cryptocurrency investors for exchanges to be open about how they operate. OKX recently announced proof-of-reserve with a reserve ratio greater than 100%. Gate.io, Kraken, Huobi, and Crypto.com, have also already published their proof-of-reserves either partially or in full.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.