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Merkle Trees are a technology concept that was first patented in 1979 and is one of the popular tech concepts that support the crypto world, even though the crypto phenomenon appears to be shakier than ever. Zhao stated that a new feature would be available in "a couple of weeks." Zhao also stated that they were creating some sort of "industry recovery fund." Justin Sun, the founder of the cryptocurrency Tron, is also said to be involved. During an AMA on YouTube, Crypto.com CEO Mike Marszalek stated that they did not have any resources invested in FTX. Some critics openly wondered if this exchange was instead used to build Gate.io to look more financially sound in its proof-of-reserve showcase. Shiba Inu Coin, a highly volatile joke coin, accounts for one-fifth of Crypto.com's reserves. [caption id="attachment_58071" align="aligncenter" width="1600"] image credit: reuters[/caption] Sam Bankman-Fried, the now-former CEO of FTX, is working to provide a comprehensive description from his perspective. The majority of the firm's assets were of the illiquid variety or were otherwise cheap or worthless. On its balance sheet, there were hidden and ill-labeled accounts, indicating massive mismanagement.As part of #Binance's ongoing commitment to transparency, we are sharing details of our hot and cold wallet addresses.
Stay tuned as we will publish a Merkle tree proof of funds within the next few weeks. More details here ⤵️ — Binance (@binance) November 10, 2022
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