Crypto firms are vowing to show proof of reserves after FTX's collapse. But here's what it really means and why it isn't enough to restore confidence

REUTERS/Darrin Zammit Lupi

• The collapse of FTX has spurred other crypto firms to try to increase trust by promising more transparency.
• Binance and several other rivals have promoted proof of reserves as a solution. 
• Experts aren't so sure proof of reserves is enough to restore confidence in crypto exchanges. 

The collapse of FTX has heightened scrutiny into cryptocurrency firms' ability to pay up when customers panic, and industry...