/biz/ - Business & Finance

>>52530248
>what does proof of reserves have to do with the luna collapse?
The whole thing was supposedly backed by reserves. See pic.
But there was no proof of reserve.

>as for FTX and Celsius, it is in their best interests to not show proof of reserves
It's not in the interest of their users, who should've been voting with their money.

>no tradfi institution as of the last couple decades has maintained 1-1 reserves because it would cost so much to maintain
Tradfi institutions are legally obligated to disclose their reserves.