Grayscale won’t share proof of reserves, citing ‘security concerns’

11/20 00:07

According to The Block, crypto investment firm Grayscale won't show proof of reserves after bitcoin and ether products fall to new all-time lows. “Due to security concerns, we do not make such on-chain wallet information and confirmation information publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure,” Grayscale said on Twitter. The firm acknowledged its decision to keep its reserve information private would be a “disappointment” to some investors. Crypto firms are being pressed to show more information about their reserves after FTX filed for bankruptcy protection earlier this month. “But panic sparked by others is not a good enough reason to circumvent complex security arrangements that have kept our investors’ assets safe for years,” Grayscale said.

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