 "market, stock market, investors, regulations, investments, financial markets")
With Binance pulling out of the deal to buy FTX, the crypto market on Thursday saw a major sell-off. The total cryptocurrency market cap was below $850 billion. Bitcoin was down over 18 per cent in the last seven days, and Ethereum was down nearly 25 per cent. FTT, FTX's token, was down nearly 90 per cent in the same period. Exchanges and experts are now batting to start proof of reserve for full transparency.
"Exchanges should follow a 'proof of reserve' approach. After the recent debacle of FTX, the whole world of Crypto Exchanges (CEXs) will be implementing the
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