Crypto.com Preliminary Audit Shows 20% of Its Assets Are in Shiba Inu Coin

Re:Crypto.com Preliminary Audit Shows 20% of Its Assets Are ... by throwup on Friday November 11, 2022 @09:03PM (#33569263)

> The reason our Proof of Reserves include Shiba is because we hold customers' balances 1:1. Thus, our Proof of Reserves are dictated by our customer holdings.

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Re:Crypto.com Preliminary Audit Shows 20% of Its Assets Are ... by cool_dude85 on Friday November 11, 2022 @11:25PM (#33569933)

Are we really supposed to believe that on a large exchange 20% of customer holdings by value is shiba?

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Re:Crypto.com Preliminary Audit Shows 20% of Its Assets Are ... by yieldcrv on Friday November 11, 2022 @11:43PM (#33570024)

yes, sure why not? if its 1:1 it doesn't matter what they hold. it doesn't matter if shiba inu imploded in value, the exchange will function fine. now if they were merely collateralized by shiba then we have a big problem.

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Re:Crypto.com Preliminary Audit Shows 20% of Its Assets Are ... by ranon on Saturday November 12, 2022 @07:18PM (#33578627)

I assume people who buy Shiba are the people who won't/don't know how to store their own keys. Whereas older coins the longer term hodlers know the common mantra of not your keys, not your coin.

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