crypto strategy

20% of Crypto.com’s reserves are on this Meme Coin – Bitcoin (BTC/USD), Ethereum (ETH/USD)

Kris MarszalekCryptocurrency exchange CEO, Crypto.comtweeted on Friday that the company was working with Nansen to create a simple dashboard to show “fully audited proof of reserve.”

Nansen has tracked all Crypto.com linked wallets to show this Crypto.com reserve dashboard view. As Marszalek pointed out, the reserve contains quite a lot of Bitcoin BTC/USD and Ethereum ETH/USDbut if you look closely, you can see another well-known token playing a prominent role.

The majority (31%) of the reserve is held in Bitcoin. However, they hold close to $600 million (21.95%) in shiba inus SHIB/USD, a highly speculative ETH-based meme token. SHIB tokens are the second largest category in reserve.

Adding to this controversy, a Twitter user noticed that Crypto.com was mistakenly transferring the majority of its ETH holdings to Gate.io instead of their own cold wallet.

We respect Crypto.com’s desire to stay ahead of the wave of exchange skepticism that may follow the catastrophic decline of FTX Exchange. It’s a good time for all crypto projects to make sure they keep a clean house and maintain transparency. Even if the disclosure could raise questions in itself.



#Cryptocoms #reserves #Meme #Coin #Bitcoin #BTCUSD #Ethereum #ETHUSD #crypto strategy

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