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Billion-Dollar Crypto Fund Grayscale Refuses to Post Proof-of-Reserves – Next Firm to Collapse?

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Crypto investment firm Grayscale has refused to share its proof-of-reserves citing "security concerns." The move has stirred up speculations about the financial health of the company.

In a Saturday tweet, the company said major cryptocurrency exchange Coinbase, which is used by Grayscale as custodian, frequently performs "on-chain validation," adding that they cannot share their proof of reserves due to security risks. "Due to security concerns, we do not make such on-chain wallet information and confirmation information publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure," the company said.

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