Crypto.com Preliminary Audit Unveils 20% of Assets in Shiba Inu (SHIB) - News
As large crypto exchanges push to prepare “proof-of-reserves” audits, an initial effort reveals just how much of Crypto.com’s reserves are in the dog-inspired meme ERC-20 token, SHIB. The audit reveals that the meme coin Shiba Inu handles a sizable portion of Crypto.com’s assets. With the industry leaning into proof-of-reserves an interesting development has taken place. As Crypto.com’s preliminary audit has shown 20% of its assets are in Shiba.
The swift collapse of the FTX crypto exchange has sparked an industry push among big rivals to publish proof of their reserves as a means to provi As large crypto exchanges prepare “proof-of-reserves” audits, an initial effort reveals how much of Crypto.com’s reserves are in the dog-inspired meme ERC-20 token, SHIB.
A preliminary audit of Crypto.com\'s reserves has revealed a significant portion – 20% – is held in Shiba Inu (SHIB). “In an ideal world, we’d want the best assets to be worth the most, but SHIB and DOGE both have...". This news highlights the impact meme coins can have, even on major crypto platforms. Because the majority of the SHIB token is a frequently abused.