We learn best through experience. Major exchanges are publishing ‘Proof of Reserves’ and while it’s not perfect, it’s a desperately needed step in the right direction to help crypto grow.

It doesn’t matter if you’re a small retail investor trying to swing trades on DogElonCactus 2.0, or one of the world’s major exchanges; we learn best through experience, and those exchanges have fuc**d up.

Major exchanges, such as Binance and Crypto.com, are publishing their reserves in an effort to garner confidence from their users and the public, and that’s because confidence is low.

From Celsius, Luna, and now FTX, these crashes have really smashed trust in the crypto space and hammered adoption, whilst affecting a lot of innocent users left holding the bags.

It’s not good enough, really.

While publishing their reserves doesn’t account for their liabilities and the full picture is very much blurred, I’m glad to see some sort of change enacted finally, and I hope to see more! We need these exchanges to be accountable, and we need to be able to build trust in the crypto space.

We might have taken 2 steps forward this run and then 1 back, but we can still keep walking and looking forward to what blockchain and crypto can become one day in the not so distant future.