Data lake provider TRES is introducing a new mechanism to track exchange and custodian reserves, joining Chainlink and other solutions catering to institutional demand.
“Exchanges only track wallets that exist on their co-mingled omnibus account. This is purely a balance snapshot of these specific wallets, meaning they can be potentially manipulated,” Tal Zackon, co-founder of TRES, told Cointelegraph. Binance’s proof of reserve page notes that although its users’ assets are fully backed, the majority of its corporate holdings are stored in wallets that are not included in its reserve calculations. Kraken, on the other hand, considers snapshots of spot balances only for selected assets, such as Bitcoin (
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