More interesting than proof of reserves, a metric that can be found via on-chain data that wouldn’t be captured in a Mazars report: quality of reserves. Bitcoin was flat heading into Asia hours on Monday. thesamreynolds and Liqquidity report.
), the largest cryptocurrency, was changing trading hands around 16,760, up 0.18% over 24 hours.
The ongoing pressure from the Fed might “keep a lid on financial assets, including bitcoin, until we get some relief from the monetary policy backdrop,” he wrote in a Dec. 16 newsletter. “The outlook for bitcoin is not assured for the year-end given the great resistance above $18K, despite the continued seller exhaustion,” according to Glassnode.Mazars, the auditing firm working with Binance and other crypto exchanges on proof-of-reserves statements, is pausing its crypto work for the right reason: It's not producing auditsas has been erroneously claimed. But for now, on-chain data is an excellent guide to see who’s really in trouble.
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