In 2022, several major crypto platforms collapsed — taking billions in customer funds with them. The common thread? None of them could prove they actually held the assets they claimed. Proof of reserves (PoR) is the industry's answer to that problem, and it is now a baseline expectation for any platform you trust with your money.
How Proof of Reserves Works
Proof of reserves is an independent audit that verifies a platform holds at least as much cryptocurrency as its customers have deposited. Think of it as a balance sheet check — but one that uses cryptographic proofs anyone can verify.
- The platform publishes a Merkle tree of all customer balances (hashed for privacy).
- An independent auditor compares total customer liabilities to on-chain wallet holdings.
- The reserve ratio shows whether the platform is fully backed — or over-collateralized.
- Results are published publicly, typically on a monthly or quarterly basis.
What Grey Crest Capital Publishes
Grey Crest Capital maintains a reserve ratio of 1.046x — meaning we hold 4.6% more in reserves than our total customer assets. Our proof of reserves page shows real-time data across 20 assets and 8 networks, with quarterly audits by Mazars Group and monthly Merkle tree proofs.
Our Reserve Ratio
$12.38B in total reserves against $11.83B in customer assets — a 1.046x ratio that exceeds industry standards.
Red Flags to Watch For
- Platforms that refuse to publish reserve data or audit reports.
- Reserve ratios below 1.0x (under-collateralized).
- Self-reported audits without independent third-party verification.
- Platforms that commingle customer funds with company operating accounts.
If a platform cannot prove it holds your assets, you should not hold your assets on that platform. It is that simple.
Visit our Proof of Reserves page to see live data, audit history, and Merkle tree verification tools. Transparency is not a marketing feature for us — it is a sacred responsibility.