Phemex releases Proof-of-Reserves, liabilities, and solvency

Phemex seems set to lead by example in the wake of the FTX fallout and the call from many in the community for all centralized exchanges to publish their proof-of-reserves. While not the first exchange to publish its proof-of-reserves, Phemex has taken its time to create the most transparent and trustful approach, relying on code rather than third-party auditors.