16.12.2022 Update: We moved funds out from Binance and deposited them to the Cold storage compared to the previous report.
The past few weeks have been a rough patch for the crypto market, with FTX leading the march South. Fears of further collapse through insolvency and general distrust have permeated the news and markets – understandably so in these difficult times.
Learning from these companies, we are able to understand better how to strive for fuller transparency. Our goal over the coming months will be to broaden the range of available information to the public eye, without sacrificing any amount of security. To start, you may be curious to know that:
- Change leverages technologies from Ledger Enterprise and BitGo – industry leaders in the crypto-space – in order to secure customer assets;
- Change uses cold wallets to provide seamless operations without compromising on security;
- Change continues to be committed to transparency: our financials are audited annually and we share the reports publicly. In 2023 we will be publishing an audit done by Grant Thornton.
In the table below, you will find the list of our cold wallet addresses and total liabilities as of December 16, 2022. For operational needs, including customer deposits/withdrawals and spot trading, Change holds a proportion of customer assets with liquidity providers and BitGo custodian matching the total assets together with funds held in cold storages 1:1.
*Liabilities as of 30/11/2022.
**Assets used for the calculation were taken as of 16/12/2022
Liquidity providers and custodians
* Revised LP proportions based on the movement of liquidity from Binance to cold storage.
We look forward to the future, and continuing to be a trusted platform by our clients. Changemakers need never hesitate in reaching out to [email protected] should a question or concern ever arise.
