CoinMarketCap Launches Proof of Reserve Tracker for Crypto Exchanges

The tool allows users to monitor exchange reserves through the display of total assets and public wallet addresses, as well as balance and value of displayed wallets.

CoinMarketCap, a market research leader and tracker in the crypto industry, has announced the launch of a new feature on its platform that gives users up-to-date financial information on exchanges.

The Proof of Reserves (PoR) tracker audits active cryptocurrency exchanges in the industry for transparency on liquidity at any given time. According to the announcement, the tracker details the company's total assets and its affiliated public wallet addresses, as well as wallet balances, current price, and values.

CoinMarketCap reports that PoR trackers will update data every five minutes. On November 22, the company tweeted out a guide for users explaining how to navigate the tool.

NEW #CMC Feature: Proof of Exchange Reserves

Proof of Reserves (PoR) provides transparency to #cryptocurrency reserves through a verifiable audit practice.

pic.twitter.com/HlNbUGzOYE

In the five-part Twitter thread, Binance was given as the initial example with over $65 billion listed in its combined wallet addresses. Additional exchanges with available PoR information include KuCoin, Bitfinex, OKX, Bybit, Crypto.com, and Huobi.

CEO and co-founder of Binance, Changpeng "CZ" Zhao retweeted the development of CoinMarketCap with a link to Binance's page. Some members of the crypto community on Twitter have