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How to Stop the Next Quadriga: Make Exchanges Prove Their Reserves

Exchanges sometimes treat depositors' assets like fractional reserves, with disastrous results. Time for regular audits, writes Nic Carter.

Updated Sep 14, 2021, 8:15 a.m. Published Mar 3, 2020, 9:00 a.m.
Gerald Cotten, late CEO of QuadrigaCX, circa 2015.
Gerald Cotten, late CEO of QuadrigaCX, circa 2015.