Four years after FTX, crypto exchanges still prove assets without proving solvency

What the source reports

A customer opens an exchange account, copies a string of numbers and follows a path through a Merkle tree. The page processes the request and returns a reassuring result: the customer’s balance was included in the exchange’s proof of reserves. The verification is most likely technically sound, establishing that the account appeared in a dataset […]The postFour years after FTX, crypto exchanges sti...