Hmmmm a bit suspicious honestly, but maybe I’m just too jaded
Substantial_Tip_2634 on
Ummmm ok come back and ask again in a few years since no-one gives a fuck about tether showing their proof of reserves
coinfeeds-bot on
tldr; Michael Saylor, speaking at the Bitcoin 2025 conference, criticized the industry’s reliance on proof-of-reserves (PoR) for transparency. He argued that current PoR methods are insecure and fail to account for liabilities, making them insufficient for institutional standards. Saylor proposed auditor attestation and regulatory compliance as better alternatives, emphasizing the importance of legal accountability. He also warned against publishing wallet addresses, citing security risks, and advocated for basic counterparty discipline over PoR practices.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
cyger on
I agree that directly publishing wallet addresses is a security risk. Once quantum computing actually works, wallets may be vulnerable. I’m fine with auditor attestation. Auditor attestation is used heavily in many public companies for assets.
mastermilian on
I totally agree with him. Why would you publish your wallets and make yourself a target for theft and scrutiny from people and even institutions/states who have absolutely no stake or affiliation with your company?
goldyluckinblokchain on
diwalost on
How dare they ask for proof, don’t they know the Bro code in crypto – „Trust me Bro“.. /s
Knowbodyy10 on
It’s simple, he’s one of us and lost it in a boating accident
Internet_is_tough on
I am not shocked at all. His response was spot on. Companies of that magnitude have internal auditor, external auditor, CFO and regulators. He shouldn’t take any security risk or have everyone in the world tracking their transactions because some people don’t trust Strategy
If you don’t trust them buy bitcoin and do self custody as he said.
I found his answer to be very logical.
dormango on
A bit of a hysterical headline. They get audited annually. Why should they respond to every Tom, Dick or Harriet that demands they show proof of reserves.
Everyone could just grow the fuck up.
lafrenieree on
sold
OneRobotBoii on
ITT: people haven’t read past the shitty title lmao
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After Saylor said this, CZ tweeted out “[He Probably sold Bitcoins](https://x.com/cz_binance/status/1927301860970443032?s=46)”
Hmmmm a bit suspicious honestly, but maybe I’m just too jaded
Ummmm ok come back and ask again in a few years since no-one gives a fuck about tether showing their proof of reserves
tldr; Michael Saylor, speaking at the Bitcoin 2025 conference, criticized the industry’s reliance on proof-of-reserves (PoR) for transparency. He argued that current PoR methods are insecure and fail to account for liabilities, making them insufficient for institutional standards. Saylor proposed auditor attestation and regulatory compliance as better alternatives, emphasizing the importance of legal accountability. He also warned against publishing wallet addresses, citing security risks, and advocated for basic counterparty discipline over PoR practices.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I agree that directly publishing wallet addresses is a security risk. Once quantum computing actually works, wallets may be vulnerable. I’m fine with auditor attestation. Auditor attestation is used heavily in many public companies for assets.
I totally agree with him. Why would you publish your wallets and make yourself a target for theft and scrutiny from people and even institutions/states who have absolutely no stake or affiliation with your company?
How dare they ask for proof, don’t they know the Bro code in crypto – „Trust me Bro“.. /s
It’s simple, he’s one of us and lost it in a boating accident
I am not shocked at all. His response was spot on. Companies of that magnitude have internal auditor, external auditor, CFO and regulators. He shouldn’t take any security risk or have everyone in the world tracking their transactions because some people don’t trust Strategy
If you don’t trust them buy bitcoin and do self custody as he said.
I found his answer to be very logical.
A bit of a hysterical headline. They get audited annually. Why should they respond to every Tom, Dick or Harriet that demands they show proof of reserves.
Everyone could just grow the fuck up.
sold
ITT: people haven’t read past the shitty title lmao