At Kraken, transparency isn’t a slogan – it’s an ordinary. Our newest Proof of Reserves (PoR) audit, finalized as of June 30, 2025, as soon as once more verifies that consumer property held on our platform are backed 1:1 and past. The method covers main cryptoassets, together with BTC, ETH, SOL, USDC, USDT, XRP and ADA.
We don’t count on blind belief. We don’t want it. We provide cryptographic proof.
New to PoR? Be taught the way it works in our newbie’s information.
What our June 2025 report reveals
Our PoR audit captures a whole snapshot of consumer property throughout all companies – not simply spot balances. It consists of margin accounts, futures holdings and staked property, providing a full-spectrum have a look at buyer publicity.
Reserve ratios as of June 30, 2025
A fast refresher – what’s Proof of Reserves?
Proof of Reserves is a cryptographic course of that enables purchasers to confirm, independently and privately, that their property are included in a third-party-audited snapshot of the platform’s liabilities.
We use a Merkle tree to mix particular person balances right into a single cryptographic hash. Purchasers obtain a personalised Merkle proof, which they will use to verify inclusion with out revealing private particulars. An unbiased auditor then confirms that Kraken’s onchain holdings exceed whole consumer balances – successfully verifying full reserves with out assumptions.
Why Kraken’s PoR goes additional
Whereas extra exchanges at the moment are providing “PoRs” in some type, not all of them supply the identical stage of rigor or transparency. Right here’s what units ours aside:
1. We account for liabilities, not simply property
Some platforms present what they maintain – however skip what they owe. We embody whole consumer liabilities in each audit. Something much less isn’t a full proof of reserves.
2. Consumer-level verification
Each consumer can confirm their very own inclusion utilizing our open-source Merkle verification software. This isn’t nearly belief – it’s about verification.
3. A decade of consistency
We first pioneered PoR in 2014 – and we haven’t stopped. Kraken conducts PoR commonly and methodically, not simply throughout information cycles.
PoR is significant. It’s not about guarantees. It’s about proof – seen, cryptographic, third-party-verified proof. Kraken’s course of is constructed to resist scrutiny and empower customers with data.
What’s subsequent – increasing scope
We’re dedicated to publishing PoRs quarterly, alongside our monetary disclosures, to make sure customers have an everyday window into platform solvency. We’re additionally actively working to broaden the protection of our PoRs to incorporate extra supported property, giving a broader view of the reserves throughout our ecosystem.
For the reason that starting, Kraken has stood for accountability, independence and crypto-first values. We imagine transparency must be an trade norm, not an afterthought. That’s why we’ll hold elevating the bar.
Able to confirm your account? Go to our Proof of Reserves portal.
