Is Proof of Reserves Legitimate?

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Nick Szymanski: With choke point with regulatory side, next thing is what we can do as an industry to make ourselves more amenable to regulators. Szymanski says he's been a long advocate of proof of reserves for a long time and thinks it's a fantastic idea. He adds that the notion of proof reserve includes both sides of the balance sheet - assets and liabilities. "I think people have like lazily targeted you in a Nick, like, this doesn't show all the liabilities that are off chain attached to that," Szymanski said.

In this episode, we're joined by Nic Carter, General Partner at Castle Island Ventures for a far reaching discussion around Nic’s thesis on Operation Choke-Point 2.0; the effort of every U.S. financial regulator to deny crypto firms access to banking services.

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