Coinbase introduces proof of reserves for cbBTC

Crypto exchange Coinbase has unveiled a proof-of-reserves (PoR) page for its wrapped Bitcoin token, cbBTC, BeInCrypto reported. The exchange holds 26,525.15 BTC in reserves, backing a cbBTC supply of 26,461.05 tokens across Ethereum, Base, Solana and Arbitrum. Coinbase has also disclosed individual Bitcoin addresses holding these reserves. BeInCrypto noted that cbBTC previously faced scrutiny over concerns of centralization, with critics including Tron (TRX) founder Justin Sun.