Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BITCOIN NEWS»Kraken successfully passed Proof of Reserves in November 2023.
BITCOIN NEWS

Kraken successfully passed Proof of Reserves in November 2023.

By Crypto FlexsDecember 22, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Kraken successfully passed Proof of Reserves in November 2023.
Share
Facebook Twitter LinkedIn Pinterest Email

The most recent proof of holdings included the most widely held cryptocurrencies: BTC, ETH, USDC, USDT, DOT, ADA, and XRP. Also included are public margin positions, futures balances, and on-chain staking amounts for those assets. In total, approximately 78% of all customer cryptocurrencies held on the platform were included in this latest proof.

We pioneered the proof of reserves process in 2014 and have been working to do this on a regular basis since January 2022.

Why This Matters

Proof of reserves is still a relatively new process. There is no universally accepted definition or requirement. Kraken’s Proof of Reserves includes independent third-party verification that we back your account holdings with in-kind, outright reserves.

Similar to the previous Proof of Reserves, we use Merkle trees to represent individual account balances that can be identified by a unique encrypted hash (string). We then hash these records successively until a single Merkle root hash represents the sum of the applicable client balances. This means that account balances can be included in the Proof of Reserves and easily verified without exposing the underlying unencrypted data set.

From this reserved proof, customers can now download the entire path within the Merkle tree from their account up to the root. They can review the configuration, better understand how Kraken’s proof-of-holdings process works, and personally verify the value and validity of the root hashes included in the report.

Kraken’s proof of holdings includes::

  • Total of all customer debts (or balances)
  • A means for customers to cryptographically verify that their account details and personal balances are included in the grand total.
  • Third-party verification that Kraken has full control of on-chain assets in excess of these liabilities.

We hired The Network Firm, a registered CPA firm specializing in accounting and attestation services for cryptocurrency businesses, to certify that we were in full control of the wallets holding customer balances.

How can I find out more?

If you haven’t already, please log in to Kraken to see for yourself whether your balance was included in this review. Please keep in mind that this proof of holdings only applies to assets that were on the platform on November 30, 2023. Assets held on the platform before or after that date are not included in this report.
For more information, check out The Network Firm’s full report, accessible through our Verification Portal. You can also check out our Proof of Reserves support page here. If you have additional questions, please contact Kraken Support.

These materials are provided for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptocurrency or to engage in any particular trading strategy. Kraken does not and will not seek to increase or decrease the price of any particular cryptocurrency it offers. Some cryptocurrency products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptocurrency market may result in loss of funds. Taxes may be payable on the appreciation and/or reporting of your cryptocurrency assets and you should seek independent advice on your tax position. Geographic restrictions may apply.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

The US government posts GDP data on Bitcoin block chain.

August 28, 2025

Ether ETF is a comeback of $ 280 million, with bitcoin leaked stripes hit on the 5th.

August 22, 2025
Add A Comment

Comments are closed.

Recent Posts

As Crypto Market cools down, NFT sales decrease from 20%to +$ 102m.

September 8, 2025

Bitcoin, Ethereum and Dogecoin dominate social buzz

September 8, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025

The August password hacking was $ 163 million as the risk of Exchange increased.

September 7, 2025

The Senate encryption bill adds a provision for treating tokenized stocks as securities.

September 7, 2025

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

As Crypto Market cools down, NFT sales decrease from 20%to +$ 102m.

September 8, 2025

Bitcoin, Ethereum and Dogecoin dominate social buzz

September 8, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Most Popular

BitVM liquidity crisis issue

April 10, 2024

Dogecoin (DOGE) Gains Support: Can It Avoid a Collapse?

October 2, 2024

Binance CEO Richard Teng said this Bitcoin halving was ‘unique’ due to recent significant events.

April 19, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.