This Bloody FTX

Looks like the entire crypto market is still very cautious and reeling back from the FTX collapse, just checked coinmarketcap.com, the total market cap is around US$795B, compared to two weeks ago it was around US$1.02T, roughly US$225B wiped out.

Now my portfolio looks sibeh jia lat lol, down by about 75%, really sian half, but I still have confidence in Bitcoin and Ethereum, I actually read the whitepapers and also took some courses, so I know these two confirm will make it.

As for exchanges, personally I use Crypto.com, kns hope they don't collapse, nowadays very hard to say, anything can just collapse in a matter of days, but so far they seem pretty stable, their CEO also did a nice AMA addressing quite a number of key concerns, I also hold their CRO tokens because I find that it has several utility and is the native token i.e. fuel of two blockchains namely Cronos and Crypto.org, they also promised a Proof of Reserve Audit in coming weeks to show that they indeed hold customer funds 1:1.

I think until most exchanges show their audit, people will remain very cautious because Proof of Reserve by itself don't mean anything if they owe more than what they have.

By the way if you want to view the Proof of Reserve of the various exchanges, you can see here: https://portfolio.nansen.ai/entities


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