At Kraken, transparency isn’t a slogan – it’s a typical. Our newest Proof of Reserves (PoR), attested as of September 30, 2025, as soon as once more verifies that consumer belongings held on our platform are backed 1:1 and past. The method covers main cryptoassets, together with BTC, ETH, SOL, USDC, USDT, XRP and ADA.

We don’t count on blind belief. We don’t want it. We provide cryptographic proof.

New to PoR? Be taught the way it works in our newbie’s information.

What our September 2025 report reveals

Our PoR captures an entire snapshot of consumer belongings throughout all providers – not simply spot balances. It consists of margin accounts, futures holdings and staked belongings, providing a full-spectrum take a look at buyer publicity as of September 30, 2025:

A fast refresher – what’s Proof of Reserves?

Proof of Reserves is a cryptographic course of that enables purchasers to confirm — independently and privately — that their belongings are included in a third-party accountancy agency’s snapshot of the platform’s liabilities.

We use a Merkle tree to mix particular person balances right into a single cryptographic hash. Purchasers obtain a personalised Merkle proof, which they’ll use to verify inclusion with out revealing private particulars. The impartial accountancy agency then confirms that Kraken’s onchain holdings exceed whole consumer balances — successfully verifying full reserves with out assumptions.

Why Kraken’s PoR goes additional

Whereas extra exchanges at the moment are providing “PoRs” in some type, not all of them supply the identical stage of rigor or transparency. Right here’s what units ours aside:

1. We account for liabilities, not simply belongings

Some platforms present what they maintain — however skip what they owe. We embrace whole consumer liabilities in each PoR. Something much less isn’t a full proof of reserves.

2. Consumer-level verification

Each consumer can confirm their very own inclusion utilizing our open-source Merkle verification device. This isn’t nearly belief – it’s about verification.

3. A decade of consistency

We first pioneered PoR in 2014 — and we haven’t stopped. Kraken conducts PoR frequently and methodically, not simply throughout information cycles.

PoR is significant. It’s not about guarantees. It’s about proof – seen, cryptographic, third-party-verified proof. Kraken’s course of is constructed to face up to scrutiny and empower customers with data.

What’s subsequent – increasing scope

We’re dedicated to publishing PoRs quarterly, alongside our monetary disclosures, to make sure customers have a daily window into platform solvency. We’re additionally actively working to develop the protection of our PoRs to incorporate extra supported belongings, giving a broader view of the reserves throughout our ecosystem.

For the reason that starting, Kraken has stood for accountability, independence and crypto-first values. We consider transparency ought to be an trade norm, not an afterthought. That’s why we’ll hold elevating the bar.

Able to confirm your account? Go to our Proof of Reserves portal.