{"id":28762,"date":"2024-09-19T18:31:52","date_gmt":"2024-09-19T18:31:52","guid":{"rendered":"https:\/\/www.duck9.com\/blog\/?p=28762"},"modified":"2024-09-19T14:32:38","modified_gmt":"2024-09-19T18:32:38","slug":"proof-of-reserves","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/proof-of-reserves\/","title":{"rendered":"Proof of Reserves"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"ltr\">\n<div style=\"display: block;\" class=\"\">\n<div style=\"-webkit-user-select: all; -webkit-user-drag: element; display: inline-block;\" class=\"apple-rich-link\" draggable=\"true\" role=\"link\" data-url=\"https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0\"><a style=\"border-radius:10px;font-family:-apple-system, Helvetica, Arial, sans-serif;display:block;-webkit-user-select:none;width:300px;user-select:none;-webkit-user-modify:read-only;user-modify:read-only;overflow:hidden;text-decoration:none;\" class=\"lp-rich-link\" rel=\"nofollow\" href=\"https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0\" dir=\"ltr\" role=\"button\" draggable=\"false\" width=\"300\"><\/p>\n<table style=\"table-layout:fixed;border-collapse:collapse;width:300px;background-color:#E9E9EB;font-family:-apple-system, Helvetica, Arial, sans-serif;\" class=\"lp-rich-link-emailBaseTable\" cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"300\">\n<tbody>\n<tr>\n<td vertical-align=\"center\" align=\"center\"><img loading=\"lazy\" decoding=\"async\" style=\"width:300px;filter:brightness(0.97);height:225px;\" width=\"300\" height=\"225\" draggable=\"false\" class=\"lp-rich-link-mediaImage\" alt=\"hqdefault.jpg\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/1bdc8d8d-075e-4950-94dc-e589e5bc15f1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td vertical-align=\"center\">\n<table bgcolor=\"#E9E9EB\" cellpadding=\"0\" cellspacing=\"0\" width=\"300\" style=\"font-family:-apple-system, Helvetica, Arial, sans-serif;table-layout:fixed;background-color:rgba(233, 233, 235, 1);\" class=\"lp-rich-link-captionBar\">\n<tbody>\n<tr>\n<td style=\"padding:8px 0px 8px 0px;\" class=\"lp-rich-link-captionBar-textStackItem\">\n<div style=\"max-width:100%;margin:0px 16px 0px 16px;overflow:hidden;\" class=\"lp-rich-link-captionBar-textStack\">\n<div style=\"word-wrap:break-word;font-weight:500;font-size:12px;overflow:hidden;text-overflow:ellipsis;text-align:left;\" class=\"lp-rich-link-captionBar-textStack-topCaption-leading\"><a rel=\"nofollow\" href=\"https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0\" style=\"text-decoration: none\" draggable=\"false\"><font color=\"#000000\" style=\"color: rgba(0, 0, 0, 1);\">What They Will NEVER Teach You at Stanford Business School<\/font><\/a><\/div>\n<div style=\"word-wrap:break-word;font-weight:400;font-size:11px;overflow:hidden;text-overflow:ellipsis;text-align:left;\" class=\"lp-rich-link-captionBar-textStack-bottomCaption-leading\"><a rel=\"nofollow\" href=\"https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0\" style=\"text-decoration: none\" draggable=\"false\"><font color=\"#A2A2A9\" style=\"color: rgba(60, 60, 67, 0.6);\">youtube.com<\/font><\/a><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/div>\n<\/div>\n<p>What they will never teach you at Stanford business school is, \u201cproof of reserve\u201d<\/p><\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Unedited by Larry Chiang<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">One of \u2066\u202aSwan\u202c\u2069&#8217;s engineers called \u2066\u202aRiver\u202c\u2069&#8217;s proof of reserves tool \u201cbest current state of the art.\u201d &nbsp;<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">While I believe that regulators will eventually apply to Bitcoin the same tradfi rules separating brokerage from custody, it&#8217;s clear this flavor of proof of reserves&nbsp;is a huge improvement &#x1f44f;&#x1f44f;&nbsp;<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">&nbsp;<span class=\"Apple-tab-span\" style=\"white-space:pre\">\t<\/span> Alexander Leishman &#x1f1fa;&#x1f1f8; <a href=\"mailto:\u2066\u202a@Leishman\u202c\u2069\" >\u2066\u202a@Leishman\u202c\u2069<\/a> logo_twitter-1497383721365.png spacer_464x1-1582829598167.png 1\/ You deserve to know your Bitcoin is safe. That&#8217;s why today we&#8217;re announcing <a href=\"mailto:\u2066\u202a@River\u202c\u2069\" >\u2066\u202a@River\u202c\u2069<\/a> Proof of Reserves. I&#8217;ll walk you through how it works &#x1f447; pic.x.com\/vnxsvrclsx &nbsp; 9\/18\/24, 9:04\u202fAM &nbsp; &nbsp; &nbsp; WordPress\u2019d<br \/><a href=\"https:\/\/x.com\/coryklippsten\/status\/1836810335329886496?s=43&amp;t=NipKy21fekvPoZS5MA8-lQ\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" style=\"border:1px solid #ccd6dd; border-radius: 12px;\" width=\"500\" bgcolor=\"#ffffff\">\n<tbody>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/x.com\/coryklippsten?s=43\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1778426409763082240\/7ZliIwoU_normal.jpg\" style=\"border-radius: 50%; padding: 0px;\" height=\"48\" width=\"48\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width:8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/x.com\/coryklippsten?s=43\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: #292c2f; text-decoration: none;\">Cory Klippsten &#x1f9a2; Swan.com<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/x.com\/coryklippsten?s=43\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: #7e8c98;\">\u2066\u202a@coryklippsten\u202c\u2069<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif;color: #292c2f; font-size: 18px; line-height: 24px; text-decoration: none;\">One of <a href=\"https:\/\/x.com\/Swan\">\u2066\u202a@Swan\u202c\u2069<\/a>&#8216;s engineers called <a href=\"https:\/\/x.com\/River\">\u2066\u202a@River\u202c\u2069<\/a>&#8216;s proof of reserves tool \u201cbest current state of the art.\u201d<\/p>\n<p>While I believe that regulators will eventually apply to Bitcoin the same tradfi rules separating brokerage from custody, it&#8217;s clear this flavor of POR is a huge improvement &#x1f44f;&#x1f44f;<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/x.com\/coryklippsten\/status\/1836810335329886496?s=43&amp;t=NipKy21fekvPoZS5MA8-lQ\" style=\"font-family: Helvetica, Arial, san-serif;color: #667785; font-size: 14px; line-height: 18px; text-decoration:none;\">9\/19\/24, 11:51\u202fAM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/div>\n<div dir=\"ltr\">\n<div dir=\"ltr\"><a href=\"https:\/\/x.com\/leishman\/status\/1836406012405772568?s=43&amp;t=NipKy21fekvPoZS5MA8-lQ\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/x.com\/leishman?s=43\"><img loading=\"lazy\" decoding=\"async\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/5f9a8ed5-4981-4348-8b1d-c77c7838f311\" height=\"48\" width=\"48\" style=\"border-radius: 50%; padding: 0px;\" alt=\"3CJ5bE-x_normal.jpg\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/b7b707ac-1b3f-45ff-8317-e1444b1c9329\" width=\"8\" alt=\"spacer.png\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/x.com\/leishman?s=43\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Alexander Leishman &#x1f1fa;&#x1f1f8;<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/x.com\/leishman?s=43\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u2066\u202a@Leishman\u202c\u2069<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/7d623a02-fc69-416d-84b2-506425f048d3\" height=\"20\" width=\"24\" alt=\"logo_twitter-1497383721365.png\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/65f247f3-4445-4baa-b805-6167d5eb689e\" width=\"464\" height=\"1\" alt=\"spacer_464x1-1582829598167.png\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">1\/ You deserve to know your Bitcoin is safe. That&#8217;s why today we&#8217;re announcing&nbsp;<a href=\"https:\/\/x.com\/River\">\u2066\u202a@River\u202c\u2069<\/a>&nbsp;Proof of Reserves. I&#8217;ll walk you through how it works &#x1f447;&nbsp;<a href=\"https:\/\/t.co\/VnXsVrcLSX\">pic.x.com\/vnxsvrclsx<\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/x.com\/leishman\/status\/1836406012405772568?s=43&amp;t=NipKy21fekvPoZS5MA8-lQ\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">9\/18\/24, 9:04\u202fAM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/div>\n<p><br id=\"lineBreakAtBeginningOfSignature\"><\/p>\n<div dir=\"ltr\">\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0);\">WordPress\u2019d<\/span>&nbsp;\u201cYou deserve to know your Bitcoin is safe. That&#8217;s why today we&#8217;re announcing \u2066\u202aRiver\u202c\u2069 Proof of Reserves. I&#8217;ll walk you through how it works\u201d<\/div>\n<\/div>\n<\/div>\n<p><img decoding=\"async\" alt=\"image0.jpeg\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/e2600fd5-d74a-40d9-8c08-dadbf54e1189\" data-unique-identifier=\"\"><img decoding=\"async\" alt=\"image1.png\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/5ab28942-81ff-49ef-a137-57ad26702493\" data-unique-identifier=\"\"><img decoding=\"async\" alt=\"image2.png\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/79a7e0af-5990-469b-8179-3895bcf62419\" data-unique-identifier=\"\"><img decoding=\"async\" alt=\"image3.png\" src=\"blob:applewebdata:\/\/af0c3354-ede9-4058-9211-85cf3f28a3aa\/e6d4293c-96f2-48ac-b19f-8207796690db\" data-unique-identifier=\"\"><br id=\"lineBreakAtBeginningOfSignature\"><\/p>\n<div dir=\"ltr\">\n<div dir=\"ltr\">\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0);\">WordPress\u2019d from my personal iPhone,&nbsp;<a href=\"tel:650-283-8008\" dir=\"ltr\" x-apple-data-detectors=\"true\" x-apple-data-detectors-type=\"telephone\" x-apple-data-detectors-result=\"1\">650-283-8008<\/a>, number that&nbsp;Steve Jobs texted me on<\/span><\/div>\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div dir=\"ltr\">\n<div><font color=\"#000000\"><span style=\"caret-color: rgb(0, 0, 0); background-color: rgba(255, 255, 255, 0);\">https:\/\/www.YouTube.com\/watch?v=ejeIz4EhoJ0<\/span><\/font><\/div>\n<div><span style=\"font-size: 13pt;\"><br \/><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-1' class='gallery galleryid-28762 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/3cj5be-x_normal-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"48\" height=\"48\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/3CJ5bE-x_normal.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/spacer_464x1-1582829598167-1-19\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"1\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/spacer_464x1-1582829598167-1-150x1.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/spacer_464x1-1582829598167-1-150x1.png 150w, https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/spacer_464x1-1582829598167-1-300x1.png 300w, https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/spacer_464x1-1582829598167-1.png 464w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/spacer-1-19\/'><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/spacer-1.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/logo_twitter-1497383721365-1-19\/'><img loading=\"lazy\" decoding=\"async\" width=\"58\" height=\"48\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/logo_twitter-1497383721365-1.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/image0-16-31\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/image0-16-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/image1-218\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/image1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/image2-1-120\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/image2-1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/image3-2-81\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/image3-2-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/proof-of-reserves\/hqdefault-3-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2024\/09\/hqdefault-3-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What They Will NEVER Teach You at Stanford Business School youtube.com What they will never teach you at Stanford business school is, \u201cproof of reserve\u201d Unedited by Larry Chiang One of \u2066\u202aSwan\u202c\u2069&#8217;s engineers called \u2066\u202aRiver\u202c\u2069&#8217;s proof of reserves tool \u201cbest current state of the art.\u201d &nbsp; While I believe that regulators will eventually apply to 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