To retrieve investors’ confidence back Vitalik Buterin and Binance plan to build new method to make a transparency image for exchanges again

According to the last AMA “ask me anything session”, Colin Wn who is Chinese crypto blogger has shown some CZ’s pledging in AMA session that Changpeng Zhoa CEO’s Binance and Vitalik Buterin Co-founder of Etherume, have a plan to establish new platform in order to retrieve a good image from token holders which will build transparency for trading exchanges back.

ref.   Wu Blockchain on Twitter 

ref. Binance on Twitter 

They plan to build a new method to support trading exchanges in order to indicate “proof of reserves” to approve that they were able to support all investors if it was a liquidity crisis again.

CZ requests to all exchanges share their proof of reserves after causing a liquidity collapse of FTX, which they had spent their FTX’s customer fund to transfer to Alameda Research under his affiliates.

More system details also don't expose yet, However, Binance prepares to be the first leader of this project and they are glad to welcome other exchanges to participate in this proposal. 

Before this CZ has posted on his Twitter space related to this.

ref. CZ 🔶 Binance on Twitter 

He has shown his intention to build recovery funds in order to help the crypto community to stay stronger but there are some liquidity issues including quantity of investors who have funds left to join the crypto industry. 

Source link: u.today