LBank Announces to Publish an Auditable Merkle Tree and Proof of Reserves (POF)

PRESS RELEASE. INTERNET CITY, DUBAI, Nov. 12th, 2022 – Global crypto exchange, LBank, has recently announced that it will share its Merkle-tree proof-of-reserves, in view of recent concerns about the opaque nature of certain industry issues. LBank gave a public statement on November 9th stating that the exchange hopes to facilitate industry transparency and built a strong foundation of trust between exchanges and investors.

LBank stated in an announcement and Twitter post to their users that “We believe that it is crucial for tier-one cryptocurrency exchanges to publicly share their auditable Merkle tree proof of reserves or POF……This is an important step in building fundamental trust in the industry, and at the same time, it is also an important means to ensure the transparency of user assets.” LBank believes that taking this step will be crucial in helping investors regain trust in the market and hopes that more exchanges will take similar steps to help with this effort.

Merkle trees are used to help users easily verify specific transactions. It can reassure investors that the crypto holding is using public blockchain information. Crypto exchanges can provide accurate proof of held balances and strengthen the trust of users. Since recent events, many have taken to this path to avoid unnecessary speculation.

LBank believes that these measures will give users the transparency they need to get through recent turbulent times. “We can’t simply ask people to take our word for things, this change is a great thing that will give investors what they need and deserve. LBank values our relationship with our users more than anything. We hope this will tie us closer to our users and communities” an LBank representative stated.

About LBank

LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.

Start Trading Now:

Community & Social Media:

l Telegram

l Twitter

l Facebook

l LinkedIn

l Instagram

l YouTube

Contact Details:

LBK Blockchain Co. Limited

LBank Exchange


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Related Posts

Regulators face public ire after FTX collapse, experts call for coordination

U.S regulators and their failure to avoid another crypto contagion have raised a lot of questions over their credibility. 2022 is nearing an end and might go…

Addresses That Sat Idle for Years Transferred 1,221 Bitcoins Worth $20M Over the Last 4 Days

During the last seven days, bitcoin’s price has remained above the $16K region following the aftermath of FTX’s collapse. Since then, a number of ‘sleeping bitcoins’ that…

Are Metacities a Step Forward in the Metaverse, or Just a Pipe Dream?

Mark Zuckerberg’s announcement of a Facebook rebrand and his concept of a Metaverse has spurred advances in the sector, including the rise of “metacities Facebook became Meta,…

SBF Says FTX Customers Deposited Around $5B Into Alameda-Controlled Account

Sam Bankman-Fried said he could not explain how billions of customer funds were missing at Alameda. SBF added that customer funds deposited into FTX might have been…

Elon Musk Says SBF Donations to Democrats ‘Probably’ Over $1 Billion

Elon Musk has alleged that the former CEO of bankrupt crypto exchange FTX, Sam Bankman-Fried, has donated over a billion dollars to the Democratic party to support…

Crypto Lender Genesis Owes Crypto Exchange Gemini Clients $900M, FT Report

Crypto lender Genesis owes US-based crypto exchange Gemini customers $900 million, according to a December 3 Financial Times report. The report revealed that Gemini had formed a…

Generated by Feedzy