pretty crazy that users are keeping over $2b worth of bitcoin on a custodial platform, they should self custody
Proof of Reserves helps protect you and your family from paper bitcoin, empty words, and rehypothecation.
Demand that your Bitcoin exchange implements it.
Switch if they drag their feet.
All bitcoin held on River is in proven full-reserve custody.
We prove to our clients each month that their unique balance is part of the total assets under custody.
You can walk through the flow on our page https://river.com/reserves
Discussion
Gotta keep some for emergency liquidity. I prefer it on River where I can convert to USD rapidly and not get punked by another exchange delaying my bank transfer.
Many do, and many split their stack across self-custody and a custodian for a variety of reasons.
With that said, this is a fraction of all bitcoin held on custodial platforms.
