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Coinbase Implements On-Chain Proof of Reserves with Chainlink for cbBTC Backing

Coinbase has introduced Proof of Reserves using Chainlink on the Base platform and Ethereum, enabling transparent and independent on-chain verification that cbBTC is completely backed 1:1 by actual Bitcoin.
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AI Analysis

The implementation of Proof of Reserves by Coinbase, utilizing Chainlink's data feeds on the Base platform and Ethereum, marks a significant step towards transparency in the cryptocurrency sector. By ...

AI Recommendation

Investors and users should see this development as a positive step toward increased transparency and trust in Coinbase's reserve practices. While the current data feeds show no reserves, the infrastru...

Disclaimer

The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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