Binance’s Changpeng Zhao and Coinbase CEO Brian Armstrong Support Vitalik Buterin’s Idea for Crypto Exchanges

Binance’s Changpeng Zhao and Coinbase CEO Brian Armstrong Support Vitalik Buterin’s Idea for Crypto Exchanges


CEOs from two of the biggest crypto firms in the world are giving a nod of approval to Ethereum (ETH) creator Vitalik Buterin’s idea for how exchanges can maintain transparency for their customers.

After the collapse of FTX and the revelations that came with it, scrutiny over the reserve systems of crypto exchanges circulated, prompting several firms to publish their reserves to prove solvency.

Buterin suggested a system where users can verify their personal balances through a Merkle Tree, protected with the privacy of a zk-SNARK (zero-knowledge succinct non-interactive argument of knowledge).

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“The simplest thing that we can do is put all users’ deposits into a Merkle tree (or, even simpler, a KZG commitment), and use a ZK-SNARK to prove that all balances in the

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