BlockchainLegend
Sun Jul 07 2024
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8 answers
1504
Why do crypto custodians use proof of reserves (por) audits?
In the realm of cryptocurrency and finance, why is it essential for crypto custodians to employ proof of reserves (POR) audits? Could it be that these audits serve as a crucial means of ensuring transparency and trustworthiness? Do they perhaps alleviate the concerns of investors and stakeholders regarding the safekeeping of their digital assets? Could it be that POR audits are a vital component in building and maintaining a robust and reliable custody service? Or is there perhaps another underlying reason that prompts custodians to utilize these audits in their operations? Understanding the rationale behind this practice could provide valuable insights into the functioning and regulation of the cryptocurrency industry.
