Jesse Powell

@jespow ↗

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Last Checked Feb. 18, 2023

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Fri Nov 25 22:36:25 +0000 2022

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Jesse Powell @jespow

@BitMEXResearch @FatManTerra @coinmetrics @TheBlock__ Then you need to look at the construction of the tree and which accounts would be in a position to identify negative balances. It's so much easier to just 1. get an auditor to confirm no shenanigans, 2. publish the whole list of balances. Assume a bad actor would use all tricks. — PolitiTweet.org

Posted Nov. 25, 2022

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Jesse Powell @jespow

@HODLaser This process involved an auditor who made sure we didn't include negative balances. It also involved a proof of assets. — PolitiTweet.org

Posted Nov. 25, 2022

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Jesse Powell @jespow

@cadhodl @PopMelancholic @FatManTerra @hellspawncrypto @cz_binance It's about minimum liabilities. You will never be able to prove 100% max liabilities. If the exchange doesn't have enough assets to cover min liabilities then that's all you need to know. If we had known that for Gox & FTX, damage would have been way less. https://t.co/1t2SNA0dZ1 — PolitiTweet.org

@AriDavidPaul Think of the audited merkle tree of client balances as proof of MINIMUM liabilities. You will never b… https://t.co/eUtrqY1zR6

Posted Nov. 25, 2022