Stephan Livera Podcast
Bitcoin Custody & Proof of Reserves with Alexander Leishman SLP604
Sep 19, 2024
In this discussion, Alexander Leishman, CEO and CTO of River, dives into the growing demand for transparency in Bitcoin with Proof of Reserves amidst rising institutional adoption. He highlights the need for exchanges like Coinbase to demonstrate their asset claims convincingly. The conversation also covers the challenges and excitement surrounding Bitcoin custody, its role as a store of value versus a medium of exchange, and the vital relationship between stablecoins and Bitcoin's future. Alex emphasizes the crucial need for clear regulations and community education.
57:10
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Coinbase needs to provide proof of reserves and liabilities to ensure transparency and build user confidence in its operations.
- Growing institutional adoption of Bitcoin indicates a cultural shift towards recognizing it as a legitimate asset against economic instability and inflation.
Deep dives
Coinbase's Proof of Reserves Debate
Concerns surrounding Coinbase's ability to prove they have the Bitcoin they claim to hold are discussed. Although it is suggested that they likely have the assets, there are questions regarding potential double counting for balance settlements and the lack of transparency in proving their reserves. The need for exchanges to provide proof of both reserves and liabilities is emphasized, as simply demonstrating reserves does not account for the possibility of excess liabilities. This practice aims to ensure transparency and promote confidence among users regarding the true state of the exchange's finances.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
