In the event of the FTX liquidity crisis and the acquisition underway by Binance, its current Head Changpeng “CZ” Zhao sent assurance to his community for full transparency on asset holdings for his networks.

Specifically, top-tier crypto exchange Binance reportedly issued a new page with the name “Proof of Assets” where every specific is rolled out across its on-chain activity for its hot and cold wallet addresses. 

This reportedly surfaced only two days following the initial tweet from CZ on Nov. 8 where he vowed to form a proof-of-reserve mechanism to ensure “full transparency” to the community.

Binance reportedly rolled out an official statement on the new page disclosing details of the next phase in its “commitment to transparency and fostering trust in the ecosystem,” but also that it is only a starting point.

The ultimate target is to establish a Merkle Tree proof of funds, which will be shared with the community in the next weeks, according to the exchange.

“Our objective is to allow users of our platform to be aware and make informed decisions that are aligned with their financial goals.”

The announcement further came with a snapshot of hot and cold wallet addresses from Nov. 10 this year, at around 12:00 am UTC.

Furthermore, the announcement reiterated that the firm’ Secure Asset Fund for Users (SAFU) has been topped at $1 billion. The initial statement surfaced via a tweet from CZ on Nov. 9 and was claimed to be carried out “in light of recent price fluctuations.”

Users on social media shared a response to the publicized numbers, with Reddit users sharing concerned related to not seeing Monero listed on the new Proof of Assets page, but still being available for purchase via the exchange.