River launched a transparency tool proving it holds over $800 million worth of Bitcoin in full reserve custody. The U.S. exchange aims to rebuild trust after failures like FTX with its new River Proof of Reserves.
Bitcoin’s enforceable signature verification creates new possibilities for seamlessly and privately expressing ownership of bitcoin to another counterparty.
“Proof of Reserves allows an exchange to prove how many bitcoin they could spend, without needing to generate a ‘live’ transaction or exposing themselves to the risks of moving funds.”
