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Crypto Exchange Coinbase Leverages Chainlink Proof of Reserves

Twitter icon  •  Published 1 year ago on May 30, 2025  •  Hassan Maishera

Coinbase, one of the leading crypto exchanges in the world, is utilizing Chainlink Proof of Reserve to increase the transparency of over $4.6B worth of cbBTC reserves.

Crypto Exchange Coinbase Leverages Chainlink Proof of Reserves

On Thursday, Chainlink announced via X that Coinbase, one of the leading crypto exchanges in the world, is utilizing Chainlink Proof of Reserve to increase the transparency of over $4.6B worth of cbBTC reserves.

Utilizing Proof of Reserves on Base and Ethereum provides independent, transparent onchain verifications that cbBTC reserves are backed 1:1 by BTC.

Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is down 7% over the past 24 hours, trading at $14.70.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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