Coinbase to Enhance Transparency with Proof of Reserve for Wrapped Bitcoin Token cbBTC

On October 1, COINOTAG news highlighted that Cointelegraph revealed Coinbase’s commitment to enhancing transparency by integrating a verifiable proof of reserve (PoR) into its wrapped Bitcoin token, cbBTC. This initiative aims to address and mitigate concerns regarding Coinbase’s transparency issues. Notably, Coinbase’s product manager, Lukas Staniszewski, communicated via X that the PoR framework for cbBTC has been a strategic part of their plan since its inception. He elaborated, “The team has been diligently working on this feature from the early stages.”