@rezoanulvibesOnNoiseApp 22 November 2022

1# Don't trust, verify is a popular slogan that becomes more popular recently. You cannot trust blindly, otherwise, you have to pay the price at some point. People trusted FTX and ended up losing their cryptos and funds. Now everyone wants to see the proof of reserves so that it can be checked and verified. It is surprising that Grayscale refuses to show proof of reverses. They use the custody service provided by Coinbase to hold cryptocurrencies. Coinbase does its on-chain validation and makes sure that everything is okay and secured. You just have to trust them. Grayscale is not going to provide on-chain wallet information and show their proof of reserves due to security concerns. You need to trust Grayscale the way you trust FTX and hope they have the reserves that they are supposed to hold.