• bitcoinBitcoin (BTC) $ 82,298.00
  • ethereumEthereum (ETH) $ 1,881.97
  • tetherTether (USDT) $ 0.999907
  • xrpXRP (XRP) $ 2.30
  • bnbBNB (BNB) $ 602.05
  • solanaSolana (SOL) $ 126.01
  • usd-coinUSDC (USDC) $ 0.999849
  • cardanoCardano (ADA) $ 0.703461
  • dogecoinDogecoin (DOGE) $ 0.168347
  • tronTRON (TRX) $ 0.212395
  • staked-etherLido Staked Ether (STETH) $ 1,880.55
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 82,227.00
  • pi-networkPi Network (PI) $ 1.41
  • leo-tokenLEO Token (LEO) $ 9.58
  • the-open-networkToncoin (TON) $ 3.45
  • chainlinkChainlink (LINK) $ 13.35
  • usdsUSDS (USDS) $ 0.999765
  • stellarStellar (XLM) $ 0.264400
  • wrapped-stethWrapped stETH (WSTETH) $ 2,252.50
  • hedera-hashgraphHedera (HBAR) $ 0.183564
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • avalanche-2Avalanche (AVAX) $ 18.28
  • suiSui (SUI) $ 2.23
  • litecoinLitecoin (LTC) $ 90.50
  • mantra-daoMANTRA (OM) $ 6.78
  • bitcoin-cashBitcoin Cash (BCH) $ 334.25
  • polkadotPolkadot (DOT) $ 4.32
  • ethena-usdeEthena USDe (USDE) $ 0.999869
  • wethWETH (WETH) $ 1,883.57
  • bitget-tokenBitget Token (BGB) $ 4.37
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • hyperliquidHyperliquid (HYPE) $ 12.98
  • whitebitWhiteBIT Coin (WBT) $ 28.28
  • wrapped-eethWrapped eETH (WEETH) $ 2,000.08
  • moneroMonero (XMR) $ 210.44
  • uniswapUniswap (UNI) $ 6.12
  • susdssUSDS (SUSDS) $ 1.04
  • daiDai (DAI) $ 0.999625
  • aptosAptos (APT) $ 5.16
  • nearNEAR Protocol (NEAR) $ 2.51
  • okbOKB (OKB) $ 48.39
  • pepePepe (PEPE) $ 0.000007
  • mantleMantle (MNT) $ 0.810815
  • internet-computerInternet Computer (ICP) $ 5.57
  • ethereum-classicEthereum Classic (ETC) $ 17.45
  • gatechain-tokenGate (GT) $ 21.28
  • ondo-financeOndo (ONDO) $ 0.815327
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 82,343.00
  • aaveAave (AAVE) $ 164.87
  • tokenize-xchangeTokenize Xchange (TKX) $ 29.88
  • official-trumpOfficial Trump (TRUMP) $ 11.29
  • crypto-com-chainCronos (CRO) $ 0.081017
  • vechainVeChain (VET) $ 0.024235
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997726
  • bittensorBittensor (TAO) $ 241.96
  • cosmosCosmos Hub (ATOM) $ 4.62
  • kaspaKaspa (KAS) $ 0.074012
  • ethenaEthena (ENA) $ 0.357538
  • filecoinFilecoin (FIL) $ 2.84
  • celestiaCelestia (TIA) $ 3.40
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.209458
  • fasttokenFasttoken (FTN) $ 3.99
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 82,287.00
  • render-tokenRender (RENDER) $ 3.10
  • algorandAlgorand (ALGO) $ 0.185927
  • sonic-3Sonic (prev. FTM) (S) $ 0.497134
  • arbitrumArbitrum (ARB) $ 0.347857
  • arbitrum-bridged-usdt-arbitrumArbitrum Bridged USDT (Arbitrum) (USDT) $ 1.00
  • story-2Story (IP) $ 5.44
  • kucoin-sharesKuCoin (KCS) $ 11.06
  • optimismOptimism (OP) $ 0.828480
  • jupiter-exchange-solanaJupiter (JUP) $ 0.490516
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.503428
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 82,173.00
  • binance-peg-wethBinance-Peg WETH (WETH) $ 1,885.74
  • quant-networkQuant (QNT) $ 76.81
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 1,955.71
  • xdce-crowd-saleXDC Network (XDC) $ 0.067351
  • nexoNEXO (NEXO) $ 1.05
  • movementMovement (MOVE) $ 0.434262
  • makerMaker (MKR) $ 1,172.75
  • dexeDeXe (DEXE) $ 17.27
  • usual-usdUsual USD (USD0) $ 0.997818
  • immutable-xImmutable (IMX) $ 0.546189
  • worldcoin-wldWorldcoin (WLD) $ 0.830576
  • sei-networkSei (SEI) $ 0.197666
  • injective-protocolInjective (INJ) $ 9.57
  • blockstackStacks (STX) $ 0.617869
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,114.68
  • flare-networksFlare (FLR) $ 0.014962
  • binance-staked-solBinance Staked SOL (BNSOL) $ 131.44
  • the-graphThe Graph (GRT) $ 0.091359
  • theta-tokenTheta Network (THETA) $ 0.860865
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • lido-daoLido DAO (LDO) $ 0.917058
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 81,861.00
  • bonkBonk (BONK) $ 0.000010
  • paypal-usdPayPal USD (PYUSD) $ 0.999634
  • mantle-staked-etherMantle Staked Ether (METH) $ 1,996.95
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • tether-goldTether Gold (XAUT) $ 2,985.85
  • wbnbWrapped BNB (WBNB) $ 602.54
  • eosEOS (EOS) $ 0.475270
  • galaGALA (GALA) $ 0.016231
  • tezosTezos (XTZ) $ 0.680333
  • berachain-beraBerachain (BERA) $ 6.41
  • stargate-bridged-usdc-berachainStargate Bridged USDC (Berachain) (USDC.E) $ 1.00
  • bittorrentBitTorrent (BTT) $ 0.00000068
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 82,259.00
  • bitcoin-svBitcoin SV (BSV) $ 33.53
  • the-sandboxThe Sandbox (SAND) $ 0.271176
  • jasmycoinJasmyCoin (JASMY) $ 0.013610
  • iotaIOTA (IOTA) $ 0.173858
  • jito-governance-tokenJito (JTO) $ 2.09
  • pax-goldPAX Gold (PAXG) $ 2,998.06
  • flowFlow (FLOW) $ 0.401486
  • kaiaKaia (KAIA) $ 0.107435
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998078
  • msolMarinade Staked SOL (MSOL) $ 161.22
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 1,957.92
  • heliumHelium (HNT) $ 3.23
  • flokiFLOKI (FLOKI) $ 0.000059
  • neoNEO (NEO) $ 7.81
  • resolv-usrResolv USR (USR) $ 0.999863
  • ethereum-name-serviceEthereum Name Service (ENS) $ 16.13
  • curve-dao-tokenCurve DAO (CRV) $ 0.409705
  • zcashZcash (ZEC) $ 33.29
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.79
  • honey-3Honey (HONEY) $ 1.00
  • pyth-networkPyth Network (PYTH) $ 0.145133
  • kavaKava (KAVA) $ 0.480824
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 137.92
  • beldexBeldex (BDX) $ 0.074644
  • axie-infinityAxie Infinity (AXS) $ 3.18
  • elrond-erd-2MultiversX (EGLD) $ 17.74
  • true-usdTrueUSD (TUSD) $ 1.00
  • telcoinTelcoin (TEL) $ 0.005369
  • starknetStarknet (STRK) $ 0.176427
  • roninRonin (RON) $ 0.772435
  • decentralandDecentraland (MANA) $ 0.256157
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.731381
  • pumpbtcpumpBTC (PUMPBTC) $ 80,516.00
  • dydx-chaindYdX (DYDX) $ 0.611187
  • dogwifcoindogwifhat (WIF) $ 0.464563
  • raydiumRaydium (RAY) $ 1.57
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 1,996.33
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 1,881.03
  • arweaveArweave (AR) $ 6.66
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.168309
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 82,468.00
  • chilizChiliz (CHZ) $ 0.043952
  • ecasheCash (XEC) $ 0.000021
  • conflux-tokenConflux (CFX) $ 0.082517
  • clbtcclBTC (CLBTC) $ 82,674.00
  • apenftAPENFT (NFT) $ 0.00000041
  • ousgOUSG (OUSG) $ 110.33
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 1,882.79
  • chain-2Onyxcoin (XCN) $ 0.012365
  • usdbUSDB (USDB) $ 0.998239
  • aerodrome-financeAerodrome Finance (AERO) $ 0.509419
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.006424
  • apecoinApeCoin (APE) $ 0.501672
  • hashnote-usycHashnote USYC (USYC) $ 1.07
  • thorchainTHORChain (RUNE) $ 1.13
  • coredaoorgCore (CORE) $ 0.394807
  • infrared-beraInfrared Bera (IBERA) $ 5.74
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • lorenzo-stbtcLorenzo stBTC (STBTC) $ 81,865.00
  • grassGrass (GRASS) $ 1.38
  • spx6900SPX6900 (SPX) $ 0.404133
  • compound-governance-tokenCompound (COMP) $ 41.91
  • axelarAxelar (AXL) $ 0.398994
  • matic-networkPolygon (MATIC) $ 0.209806
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 1,880.51
  • olympusOlympus (OHM) $ 21.74
  • fraxFrax (FRAX) $ 0.998245
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.834765
  • tbtctBTC (TBTC) $ 82,137.00
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 1,914.17
  • aioz-networkAIOZ Network (AIOZ) $ 0.297953
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000062
  • amp-tokenAmp (AMP) $ 0.004011
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 1,960.88
  • pendlePendle (PENDLE) $ 2.07
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.998291
  • kaitoKAITO (KAITO) $ 1.37
  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 1.00
  • akash-networkAkash Network (AKT) $ 1.30
  • based-brettBrett (BRETT) $ 0.031892
  • gnosisGnosis (GNO) $ 122.49
  • beam-2Beam (BEAM) $ 0.006024
  • mina-protocolMina Protocol (MINA) $ 0.255711
  • verus-coinVerus (VRSC) $ 3.90
  • reserve-rights-tokenReserve Rights (RSR) $ 0.005465
  • fartcoinFartcoin (FARTCOIN) $ 0.305629
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 1,859.39
  • plumePlume (PLUME) $ 0.146933
  • morphoMorpho (MORPHO) $ 1.24

Coinbase Launches Proof of Reserves for cbBTC Bitcoin Wrapper

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Coinbase Launches Proof of Reserves for cbBTC Bitcoin Wrapper

In response to mounting concerns over transparency, Coinbase has unveiled a Proof of Reserves (PoR) for its wrapped Bitcoin token, cbBTC.

This move aims to assure users that each cbBTC is backed 1:1 by Bitcoin (BTC) held by the exchange.

Coinbase Reveals cbBTC Proof of Reserves

According to the PoR data, the Coinbase exchange holds a total reserve of 26,525.15 BTC, with a corresponding cbBTC supply of 26,461.05 tokens.

The distribution of cbBTC across various networks is as follows: Ethereum hosts 16,080 cbBTC, Base contains 7,655.391 cbBTC, Solana holds 2,673.489 cbBTC, and Arbitrum has 51.395 cbBTC.

Coinbase Launches Proof of Reserves for cbBTC Bitcoin Wrapper

cbBTC Proof of Reserves. Source: Coinbase

Coinbase also disclosed the specific Bitcoin addresses and their balances, enhancing the transparency of its reserves. According to the data, the wallet holding the largest portion of these reserves contains 690 BTC, worth approximately $65.8 million at current rates. Meanwhile, 40 wallets hold 480.984 BTC each. The remaining BTC is distributed among several other wallets.

This development comes on the heels of criticism from prominent figures in the cryptocurrency community. Justin Sun, founder of Tron, previously lambasted cbBTC for its perceived lack of transparency and centralization.

As BeInCrypto reported, Sun expressed concerns that cbBTC lacked Proof of Reserve, was unaudited, and could freeze balances at any time. Sun warned that such centralized control could lead to asset seizures in response to government actions.

“cbBTC lacks Proof of Reserve, no audits, and can freeze anyone’s balance anytime. Essentially, it is just ‘trust me.’ Any US government subpoena could seize all your BTC. There is no better representation of central bank Bitcoin than this. It’s a dark day for BTC,” Justin Sun wrote on X.

While Coinbase’s introduction of PoR for cbBTC addresses some transparency issues, user apprehensions persist.

“You also talked about proof or reserve for Solana but it happened to be wrong and our transactions were stuck for over 24 hours,” a user on X challenged.

The user references recent incidences involving delays in Solana (SOL) transactions on the platform, causing execution waits exceeding 14 hours. This led to speculation that Coinbase might be staking users’ SOL without consent, causing delays due to the unstaking process. Such practices have raised questions about the exchange’s liquidity and operational integrity.

“Deposit SOL to Coinbase, they take your SOL and stake it to earn yield off your deposits, and oops — if everyone wants SOL all at once, they don’t have your liquidity,” one user summarized.

Notably, Coinbase Support ascribed the delays to “technical and blockchain issues.” Nevertheless, users called for clear evidence of its liquidity and operational integrity. In light of these events, the cryptocurrency community continues to advocate for increased transparency and accountability from centralized exchanges.

Coinbase’s implementation of cbBTC Proof of Reserves is a step toward rebuilding trust. However, ongoing scrutiny suggests that users remain vigilant about managing and securing their assets on such platforms.

Source

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