Opinion by: Lennix Lai, global chief commercial officer of OKX
More than three years after data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/ftx-collapse-the-crypto-industry-s-lehman-brothers-moment”>FTX’s collapse, the crypto industry must not forget that trust in our system depends on verifiable transparency. Arguably, that lesson matters more now than ever as we experience a period of volatility.
The idea behind proof of reserves (PoR) is simple yet powerful. Through transparent, onchain audits, exchanges can demonstrate that every customer balance is backed one-to-one by assets held in reserve. In the aftermath of FTX, PoR became a lifeline — a…

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