What Is Proof of Reserves?

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It just delays the amount of time that it's going to take for some of these claims to actually be recovered. Who's buying them up? It would be so a nigma according to the chat and Nick, my is looking into it. There were other talks of other firms that are not fully confirmed. So I will not say those things. Maybe, maybe you'll spill the tea later on. All right. Now let's get back to the show. Have you ever tried creating an NFT? Get started today for free at smartment.pastel.network.

Welcome to Chain Reaction, where we unpack and explain the latest in crypto news, drama and trends, breaking things down block by block for the crypto curious.

Web3 this week really reminded us that even the best-laid plans aren’t always reliable. We tore up the script for our Thursday episode this week, which we recorded live on stage at our TechCrunch Crypto conference in Miami, and talked instead about the leaked DMs between Sam Bankman-Fried and a Vox reporter.

We shared some of the most notable quotes from the surreal, absurd exchange and unpacked why they matter. Besides what went down in the DMs, we also talked through a couple of major topics related to the FTX fallout, including:

The contagion that’s unfolded among other market makers and fund managers
What proof of reserves actually means and whether it is a viable solution for transparency from crypto companies

ICYMI, you can use the promo code REACT to get 25% off an annual subscription to TechCrunch+, where we’ve been diving deep into all the latest drama going down in the cryptoverse.

Chain Reaction comes out every Tuesday and Thursday at 12:00 p.m. PT, so be sure to subscribe to us on Apple Podcasts, Spotify or your favorite pod platform to keep up with the action.

Chain Reaction comes out every Thursday at 12:00 p.m. ET, so be sure to subscribe to us on Apple Podcasts, Spotify or your favorite pod platform to keep up with the action.